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