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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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Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session u ...
Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED
Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to sup ...
Thursday, 07 July 11
BELOW 5100 COAL WILL BE BANNED FOR EXPORT BY 12 JANUARY 2014
COALspot.com - Indonesian government is in the process of drafting an amendment for government regulation 23/ 2010.
GR 23/2010 has issued to sup ...
Wednesday, 06 July 11
ATLAS RESOURCES TO OFFLOAD 17 PERCENT IPO - INSIDER STORIES
Coking and thermal coal miner PT Atlas Energi Resources aims to offload 17percent new shares of its enlarged capital after Eid-Fitri holidays, as qu ...
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- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- MS Steel International - UAE
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
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