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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, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
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- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- The Treasury - Australian Government
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Planning Commission, India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
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