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