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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, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
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- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- VISA Power Limited - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- PTC India Limited - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
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