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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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Tuesday, 20 December 16
TRADE HAS FELT ITS BUMPS AND SHAKES THIS YEAR - GEORGE LAZARIDIS
Trade has felt its bumps and shakes this year, as growing populist protectionist and nationalist movements in the Western world start to take hold. ...
Tuesday, 20 December 16
TURNAROUND IN CHINESE ECONOMY HAS INTENSIFIED RECENTLY, SAYS COMMODORE RESEARCH
According to the most recent Weekly China Report published by Commodore Research, it has remained encouraging that the turnaround in China’s ...
Monday, 19 December 16
U.S. WEEKLY COAL PRODUCTION DOWN 3.1% PERCENT WEEK ON WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
Monday, 19 December 16
THE FREIGHT MARKET WAS CONTINUING TO SOFTEN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continually decline this past week and ending on a negati ...
Thursday, 15 December 16
SUPRAMAXES ARE ACHIEVING AROUND HIGH USD 7K FOR INDO/CHINA COAL ROUNDS - FEARNLEY
Supramax
Pacific has been relatively quiet this week, with some softening signs.
Supramaxes are achieving around high USD 7k for Indo/China ...
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- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- White Energy Company Limited
- The University of Queensland
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Barasentosa Lestari - Indonesia
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