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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, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
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