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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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- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- The University of Queensland
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- The Treasury - Australian Government
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