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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 June 17
U.S THE PAST WEEK'S COAL PRODUCTION ESTIMATE UP 4.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
Wednesday, 31 May 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
In the next episode of the oil market; The market reacts to OPEC’s production cut extension, the US shale oil producers are ruining the carte ...
Tuesday, 30 May 17
MARKET ANALYSIS - GEORGE LAZARIDIS
Despite the fair performance that has been noted in the Chinese economy over the past 5 months, we have started to see an increase in the skepticis ...
Friday, 26 May 17
MOST COAL PLANTS IN THE UNITED STATES WERE BUILT BEFORE 1990 - EIA
Coal-fired electricity generators accounted for 25% of operating electricity generating capacity in the United States and generated about 30% of U. ...
Friday, 26 May 17
U.S WEEKLY COAL OUTPUT ESTIMATE UP 6.3% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.3 million short ton ...
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- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
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