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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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Friday, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
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- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- The University of Queensland
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
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