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