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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, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Planning Commission, India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
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