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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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Wednesday, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Planning Commission, India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
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