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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, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
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- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Australian Coal Association
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
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