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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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- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
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