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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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Tuesday, 12 April 16
NO FURTHER SIGNIFICANT COAL PRICE DECLINES IN THE FUTURE - FITCH
COALspot.com: Fitch does not expect further significant coal price declines because producers sector-wide are suffering losses while China and Indo ...
Monday, 11 April 16
ON THE TIGHTROPE, IT CAN BE HARD TO KEEP YOUR BALANCE.... - CLARKSONS
Today’s headlines often point towards the impact of the demand side on the state of health of the shipping markets. But despite the fact that ...
Monday, 11 April 16
WEEKLY CS (I) COAL INDEX FOR 5700 GAR COAL UP 0.03 CENTS, OR ABOUT 0.06 PERCENT, TO $48.21 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.15 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 11 April 16
COAL IS NOT THE ENEMY TO FIGHT - ANDREA CLAVARINO, ASSOCARBONI
COALspot.com: “Coal is not the enemy to fight and electricity production from coal has an environmental impact in its lifecycle similar to na ...
Monday, 11 April 16
FORTY INDIAN COAL IMPORTERS UNDER THE DRI SCANNER FOR OVER-INVOICING : HINDU BUSINESS LINE
The Finance Ministry and the Directorate of Revenue Intelligence (DRI) of India are said to have stepped up investigations into the alleged over-in ...
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- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- The University of Queensland
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
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