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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, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
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- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- The University of Queensland
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