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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- PTC India Limited - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
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