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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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Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
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- Siam City Cement - Thailand
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- The University of Queensland
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
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