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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, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Posco Energy - South Korea
- ASAPP Information Group - India
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