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