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