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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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Sunday, 04 December 16
U.S. WEEKLY COAL OUTPUT DECLINED 11.9% W/E 26 NOV; UP 1.4% Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million short ton ...
Thursday, 01 December 16
OIL PRICES MAY SEE LITTLE GROWTH BEFORE 2018, FITCH RATINGS SAYS
High inventories and the potential for US shale production to respond quickly to any market tightening mean oil prices may flat line in 2017 before ...
Thursday, 01 December 16
CHINA 2017 OIL, GAS OUTPUT DROP MAY WORSEN ON CAPEX CUT: FITCH
China's oil and gas production may shrink even more in 2017 than in 2016 after the country's leading oil companies cut exploration and prod ...
Thursday, 01 December 16
ANOTHER WONDERFUL WEEK FOR PANAMAX - FEARNLEY
Supramax
A slower start to the week in the Pacific compared to last Trips from N. China to S. China is paying in the range of low USD 5k, while I ...
Tuesday, 29 November 16
AUSTRALIA'S PORT OF NEWCASTLE SHIPPED 13.08 MT OF COAL IN OCTOBER; DOWN 10.39% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU1,124.7 Mi ...
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- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Australian Coal Association
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- The University of Queensland
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
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