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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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Wednesday, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
Tuesday, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
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- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Planning Commission, India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
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