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