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