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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, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
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- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- White Energy Company Limited
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Planning Commission, India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
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