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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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Monday, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
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- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Australian Coal Association
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
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