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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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Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index ( ...
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- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Minerals Council of Australia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
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