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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, 15 August 16
THE SPOT FREIGHT MARKET STRENGTHEN OVER THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose as Cape and Panamax segments ending in a positive no ...
Friday, 12 August 16
U.S. WEEKLY COAL OUTPUT ENDING AUGUST 6 FELL SLIGHTLY
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.9 million short ton ...
Thursday, 11 August 16
CAPESIZE THE PACIFIC SIDE IS LOOKING MORE POSITIVE, DRIVEN BY AUSTRALIAN IRON ORE - FEARNLEYS
Supramax
Rates continue to be under pressure with index ending up with 639 points and average TC value at USD6,680, said Fearnleys. Fearnleys A/S ...
Thursday, 11 August 16
EIA ESTIMATES THE DELIVERED COAL PRICE TO U.S. ELECTRIC UTILITIES IN 2017 AVERAGED $2.24/MMBTU; $0.05/MMBTU HIGHER THAN 2016 ESTIMATES
Coal Supply
U.S. coal production in July was 65 million short tons (MMst), an 8 MMst (14%) increase from the previous month but 11 MMst (15%) low ...
Wednesday, 10 August 16
THE DRY BULK MARKET KEPT SOFTENING LAST WEEK; WE CAN SEE MUCH HEALTHIER NUMBERS STARTING SEPTEMBER
The Dry Bulk market kept softening last week as we have now started going through the traditionally quieter days of the summer season peak period, ...
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- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
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