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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, 30 June 21
BUMA SIGNED MINING AGREEMENT WITH ADARO
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into an agreement for the p ...
Wednesday, 30 June 21
MARKET INSIGHT - INTERMODAL
The strong freight performance since the beginning of year has continued for the dry bulk market with earnings being at the highest level in over a ...
Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
Indonesia on the right emissions reduction pathway but same old coal stories persist
Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
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- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Planning Commission, India
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