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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
 COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 million tons, Indonesian coal industry sources said. 56.30 percent up year-to year.
China's Indonesian coal imports have jumped up drastically in May by 2.105 MMt compared to its April imports. Chinese coal imports from Indonesia in May was higher than India's imports from Indonesia. India has imported 6.368 million tons in May where’s China has imported about 8.21 MMt which was 1.841 million MT higher.
India has lost its largest Indonesian coal importer status to China first time in the last five months. India was the largest Indonesian coal importer since January 2011 followed by China and other Asian countries. China is expected to import more coal in this month and coming months to increase energy supplies to prevent a worsening of its summer power shortage in seven years.
According to analyst, China faces a power shortfall, and that may extend to 40GW this northern summer, surpassing its 2004 power shortfall. China’s benchmark power-station coal prices rose to the highest since October 2008 as summer electricity demand increased in the world’s fastest-growing major economy, as quoted by Bloomberg its report early this week.
According to Indian coal minister, Indian coal imports may be at 250 million tons per annum by 2016. Coal imports is unavoidable option for Indian utilities due to non availability of economically viable coal from domestic mines. However, according to Indian UMPPs, due to Indonesian government regulation that forces all coal producers must sell coal at government declared monthly prices, would cost them at least US$ 30 per ton higher than they previously budgeted.
"Implementation of this proposed new rule by the Indonesian government ( I.e., the law mandates all coal producers to sell coal at government declared prices) will adversely impact all existing and future imported coal-based power plants in India, including UMPPs," Ashok Khurana, the Director General of the Association of Power Producers, said as reported by an Indian paper.
“When Indian companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipesh Dipu, director, at Deloitte, mydigitalfc reported.
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Indonesia has introduced bench mark pricing mechanism for its coal since February 2010, and it has implemented for the domestic supplies as well export market. The pricing was done on very transparent way using four internationally acceptable coal indices to generate monthly Indonesian coal reference prices for about 62 types of coal including 8 types of bench mark qualities.
The regulation also requires miners to report sales volumes, prices, and buyers every month to the government, allowing it to ensure that the rules are being followed. Violations can lead to revocation of mining permits. The price benchmark aims to prevent firms selling coal to affiliates at low prices to avoid taxes that hurts Indonesia's efforts to collect revenues from its massive commodity exports.
Ministry of Energy and Mineral Resources of Indonesia has set the June 2011 Indonesian Coal Reference Price for thermal coal at US$ 119.03 per ton per ton, which was 1.20 percent higher than May 2011 price of US$ US$ 117.61. Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur (arb) 0.8%, Ash Content (arb) 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 30 June 2011.
Indonesian bituminous coal of 5,500 kcal/kg NAR was offered at between $ 108 - 110 a ton, FOB vessel basis this week, slightly up from last week price, traders said.
According to Indian power industry sources opined that Indian UMPPs ( ultra-mega power project) suddenly caught in between as the concept of UMPP was implemented 4 to 5 years back. The large scale industrial houses in India have bided and secured UMPP licenses based on the open market prices /long term coal contracts from Indonesian producers (I.e., pre regulated Indonesian market). Now that Indonesian coal reference price mechanism is in place all the UMPP's are seeking Indian government’s assistance in revising the Power Tariff of UMPP.
Now, the bankers who have funded the projects are bit worried about the rising Indonesian coal costs versus the power sales price which was pegged at pre-regulation prices, Indian banking industry sources said. Now, we need to see whether Indian Government allows the UMPPs to revise the power sale prices based on Indonesian coal reference price mechanism.
As such India cement and steel industries were used to buy coal from South Africa and Australia on index base pricing mechanism since last four to five years. in view of the attractive profit margin levels, entire Indonesian coal producers migrated to Index based pricing for coal contracts . “Where's still many of the Indian utilities and private consumers are still procuring the coal on firm delivered basis. This concept is creating lot of confusion in the Indian trade circles” an Indian trader commented.
77.12 percent of total coal exports in May goes to China, India, South Korea, Japan and Taiwan respectively.
The coal export information within this article is provided by coalspot.com on an "as is" and "as available” basis. All details about, given in good faith, without guarantee. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.
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Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
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- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Australian Coal Association
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
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