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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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Monday, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
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- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
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