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