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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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Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
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- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
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