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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, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- MS Steel International - UAE
- Australian Coal Association
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- GMR Energy Limited - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
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