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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, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
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- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
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