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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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Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
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- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- CNBM International Corporation - China
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- The University of Queensland
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
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