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