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