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