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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, 02 September 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 19 MMST IN 2016 TO 55 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million sho ...
Thursday, 01 September 16
SUPRAMAX GETTING LEVELS OF MID/HIGHER 7K DELIVERY SINGAPORE FOR TRIPS TO CHINA AND AROUND 9K FOR DIRECTION INDIA - FEARNLEYS
Supramax
This week started slower with London on bank holiday Monday. The south east Asian market seems to have been taking a breather with chart ...
Thursday, 01 September 16
AUSTRALIA'S NEWCASTLE PORT SHIPPED 2.33 PERCENT MORE COAL IN JULY
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.10 bill ...
Wednesday, 31 August 16
THE DRY BULK MARKET MANAGED TO FIND FURTHER SUPPORT DURING THE LAST DAYS OF THE SUMMER SEASON - INTERMODAL
The Dry Bulk market managed to find further support during the last days of the summer season, with the BDI climbing above 700 last Friday, reachin ...
Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increase ...
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- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Australian Coal Association
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
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