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