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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, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
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- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- White Energy Company Limited
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
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