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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, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
Monday, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
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- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
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