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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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Saturday, 12 November 11
BBJ WILL RELEASE A COAL CONTRACT
Jakarta Futures Exchange will soon release a coal futures contracts during the quarter 1 / 2012.
Director of the Jakarta Futures Exchange (BBJ) S ...
Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
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- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Australian Coal Association
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- MS Steel International - UAE
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
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