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