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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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Tuesday, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
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- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
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