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