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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, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Australian Coal Association
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
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