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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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Wednesday, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
Tuesday, 12 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
Energy and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
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- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
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