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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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Friday, 04 July 14
US: WEEKLY COAL PRODUCTION SLIGHTLY UP W-O-W
COALspot.com – United States the world's second largest coal producer, produced approximately 19.4 million short tons (mmst) of coa ...
Friday, 04 July 14
PARAM MITRA COAL RESOURCES SECURES US$ 7.5M INVESTMENT FROM TEMBUSU PARTNERS
Param Mitra Coal Resources Pte Ltd (“PMCR”), which owns two operating coal mines in Indonesia, has secured from Singapore private equit ...
Thursday, 03 July 14
BUMI TRANSFERS 19% OF KPC STAKE VALUED AT US$ 950 MILLION TO CIC
COALspot.com: PT. Bumi Resources announces that 19% of its holdings in Kaltim Prima Coal (KPC), valued at US$ 950 million, has been transferred to ...
Thursday, 03 July 14
PANAMAX : IN THE ATLANTIC, OWNERS ARE WILLING TO FIX AT ABOUT $2.5K PER DAY - FEARNEYS
Handy
In its latest weekly report, shipbroker Fearneys noted that, this week seems to have been more of a wait and see game between owners and ch ...
Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the govern ...
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- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
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