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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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Wednesday, 05 October 16
SHIPPING MARKET INSIGHT
On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together produ ...
Monday, 03 October 16
THERMAL COAL PRICE SHOOTS UP AND MADE THEIR VERTICAL MOVE IN 5 YEARS; PRICE RALLY CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Monday, 03 October 16
DRY-BULK SHIPPING FREIGHTS SLIDE IN SOFTENING SPOT MARKET
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 30 September 16
U.S. WEEKLY COAL OUTPUT FELL 2.3% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 30 September 16
OPEC CUT SUPPORTS SLOW OIL RECOVERY, NOT STRONG REBOUND - FITCH
OPEC's oil production target announced this week signals the potential for greater co-ordination among its members, but the target itself is la ...
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- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- The University of Queensland
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
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