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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, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mini ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
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- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Planning Commission, India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
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