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