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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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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
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- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
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