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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, 02 March 18
ANGLO AMERICAN COMPLETES SALE OF ESKOM-TIED THERMAL COAL OPERATIONS IN SOUTH AFRICA
Anglo American plc (“Anglo American”) confirms completion of the sale of its Eskom-tied domestic thermal coal operations in South Afric ...
Friday, 02 March 18
MORE COAL INQUIRES FROM SOUTH AFRICA TO INDIA; SUPRAS FIXED CA $12K + BB - FEARNLEYS
Supramax
Better rates in Atlantic, but not too busy market just yet.
Black Sea catched improving rates for grain cargoes, where supras to Eg ...
Friday, 02 March 18
U.S. WEEKLY COAL PRODUCTION DOWN 2.7 PER CENT W/E 24 FEB, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Wednesday, 28 February 18
INDIA: TEPID COAL TRAFFIC TO HIT VOLUME GROWTH AT PORTS TILL 2022 - PTI
Cargo growth at the country’s major ports is all set to moderate to 3-5 per cent per annum over the next five years due to the “sedate ...
Wednesday, 28 February 18
MARKET INSIGHT - LINOS KOGEVINAS
US Shale production continues to grow rapidly, hitting new records and with projections being revised upwardly at every turn. According to the Inte ...
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- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Planning Commission, India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
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