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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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- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Australian Coal Association
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
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