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