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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, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
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- London Commodity Brokers - England
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
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