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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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Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
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- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Australian Coal Association
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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