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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, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
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- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- The University of Queensland
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
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