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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, 05 May 09
INDONESIA'S ADARO PAYS $78.6 MLN FOR COAL-BARGING FIRM - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, said late on Monday it paid $78.6 million for a 74 percent stake in Orchard ...
Tuesday, 05 May 09
PHILIPPINES SEMIRARA STILL EXPECTS HIKE IN COAL SALES - BUSINESS MIRROR
DESPITE the anticipated soft demand resulting from the prevailing global financial crisis, the country’s largest coal producer Semirara Mining ...
Monday, 04 May 09
VISTAAR SINGAPORE SAYS, THIS MONTH DRY BULK FREIGHT LIKELY TO COME DOWN
COALspot.com (Singapore) - VISTAAR shipping Services Pte Limited of Singapore, said, the beginning of last week started with bit of weakness an ...
Monday, 04 May 09
PNOC-EC TO GROW COAL OPERATIONS - PHILIPPINE DAILY INQUIRER
LISTED firm Philippine National Oil Co.-Exploration Corp. plans to expand its operations this year to ensure the steady supply of coal and fur ...
Saturday, 02 May 09
BUMI'S FIRST-QUARTER PROFIT RISES 21% ON COAL PRICE - BLOOMBERG
PT BUMI RESOURCES, Asia’s biggest exporter of power-station coal, said first-quarter profit rose 21 percent after it earned higher prices for ...
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- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
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