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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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Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
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Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
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- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
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