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