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