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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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Saturday, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
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- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- The University of Queensland
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
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