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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, 07 October 16
INDONESIA'S DEMAND FOR COAL REMAINS STRONG: BP
Indonesia's domestic demand for coal shows no sign of slowing down as the country is banking on its coal abundance to meet the country' ...
Friday, 07 October 16
CEYLON SHIPPING CORPORATION HAS TAKEN DELIVERY OF COAL CARRIER MV.CEYLON PRINCESS
Sri Lanka’s Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier for the transportation of coal to pow ...
Friday, 07 October 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 540.5 MMST; DOWN 21.9% Y-O-Y, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 06 October 16
SHIPS IN PACIFIC ACHIEVE JUST ABOVE $10K DAILY FOR A BRAZIL ROUND VOYAGE - FEARNLEYS
Supramax
Slower week with limited activity due to holidays in the East. Mixed feelings within different markets, with slight downturn in Pacific ...
Wednesday, 05 October 16
OPEC TO SHUT OFF MORE THAN 6 PERCENT OF ITS PRODUCTION; MIXED FEELING AMONGST TRADERS - ALLIED
OPEC recent accord to shut off more than 6 percent of its production this past week has been met with mixed feeling amongst traders. As we mo ...
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- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- The University of Queensland
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
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