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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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Sunday, 31 July 11
CAPES ARE TRADING BELOW $ 9500 PER DAY - VISTAAR
COALspot.com - The BDI further softened by 4.46 pct and closed at 1264 points which touched below 1300 points after long time. The Cape and Panamax ...
Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
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- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
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