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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, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
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- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- White Energy Company Limited
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
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