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