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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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Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
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- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
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