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