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