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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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Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
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- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Planning Commission, India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- The University of Queensland
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Parliament of New Zealand
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Australian Coal Association
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
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