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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, 16 May 16
THE FREIGHT MARKET WAS WEAK AND ALL SEGMENTS EXCEPT PANAMAX WERE DOWN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
Friday, 13 May 16
COAL CARGOES - SOME RECENT DEVELOPMENTS: SWEDISH CLUB
KNOWLEDGE TO ELEVATE
Indonesia continues to be amongst the world’s major exporters of coal, some 426Mt being traded in 2013 mostly to In ...
Friday, 13 May 16
US WEEKLY COAL PRODUCTION IS RUNNING 33% BELOW THE SAME PERIOD IN 2015 - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.9 million short tons (mm ...
Friday, 13 May 16
DRY BULK SHIPPING MARKET RECOVERY WILL BE A LONG, HARD-FOUGHT BATTLE - HELLENIC SHIPPING NEWS
Anyone who expects a strong rally in dry bulk market rates to end the industry’s downturn will be bitterly disappointed. By contrast – ...
Wednesday, 11 May 16
U.S. FORECAST COAL PRODUCTION IS EXPECTED TO DECLINED BY 150 MMST IN 2016; THE LARGEST DECLINE SINCE 1949 - EIA
COALspot.com: EIA estimates that U.S. coal production in April was 46 million short tons (MMst), a 6 MMst (12%) decrease from the previous month an ...
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- Posco Energy - South Korea
- ASAPP Information Group - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- The University of Queensland
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
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