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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, 10 August 18
U.S. COAL PRODUCTION TO DECLINE BY 1.8% IN 2019 BECAUSE COAL EXPORTS AND COAL CONSUMPTION ARE BOTH FORECAST TO DECREASE - EIA
EIA forecasts U.S. coal production will decline by 1.1% to 766 million short tons (MMst) in 2018 despite a 5.7% (6 MMst) increase in coal exports.
...
Thursday, 09 August 18
RIO TINTO COMPLETES SALE OF REMAINING COAL ASSETS
Rio Tinto has completed the sale of its remaining coal assets in Queensland, Australia, for $3.95 billion.
According to a noted post ...
Wednesday, 08 August 18
CHINA DEMANDS PREMIUM IRON ORE, COAL; MINERS MIXED IMPACT - FITCH RATINGS
China’s stricter environmental regulations and structural changes in its steelmaking industry boosts ongoing demand for high-quality iron ore ...
Wednesday, 08 August 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
Singapore's shipyard business has evolved over the decades, from shipbuilding and repairs to rig building. It's now evolving again, to cate ...
Friday, 03 August 18
PHEW! ASIA, EUROPE HEATWAVE PUSHES AUSTRALIA COAL PRICES TO 6-YEAR HIGH: REUTERS
Australian thermal coal prices have hit fresh six-year highs as a heatwave across the northern hemisphere has triggered a spike in demand for coal- ...
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- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Australian Coal Association
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
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