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