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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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Monday, 30 January 17
DUE TO LUNAR YEAR HOLIDAYS, THE FREIGHT MARKET STAYED WEAK
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was down in all segments this past week.
The Baltic Exchange, tra ...
Friday, 27 January 17
U.S WEEKLY COAL OUTPUT RISES FOR THIRD STRAIGHT WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Wednesday, 25 January 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
Remember that old but classic song called “Destination Unknown”? Well that is where the oil market is heading right now. The song made ...
Tuesday, 24 January 17
MARKET UPDATE - ALLIED
This week at the World Economic Forum in the Swiss resort of Davos we had a historic first via the attendance and speech given by China’s pre ...
Monday, 23 January 17
THE PORT OF NEWCASTLE SHIPPED $AU 15.279 BILLION WORTH OF 161.399 MILLION TONS OF COAL IN 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,453.1 M ...
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- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
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