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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, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
Friday, 13 November 20
SHIPPING OUTLOOK TURNS STABLE ON EBITDA GROWTH, IMPROVING SUPPLY-DEMAND BALANCE - MOODY’S
Outlook revised to stable from negative.
The global shipping industry is on course to perform better overall than we had previously ex ...
Friday, 13 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Monday, 09 November 20
INDONESIA MAY CUT BIODIESEL USE TARGET AS SUBSIDY FUND DEPLETES - FITCH
The Indonesian government may rein in its push to increase use of biodiesel as it now comes at higher cost following a fall in crude oil prices and ...
Monday, 09 November 20
SOUTH AFRICA: COAL MARKET CONDITIONS HAVE ' DETERIORATED MATERIALLY' - IEEFA
The Asian seaborne thermal coal pool is drying out
Resource Generation Ltd’s proposed but long delayed Boikarabelo coal mine i ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- The University of Queensland
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- PTC India Limited - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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