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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, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
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Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
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- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Australian Coal Association
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
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