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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, 07 March 16
INDONESIAN 5700 GAR COAL INDEX DECLINE $0.05 A TON WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.28 percent week over week to averaging $38.66 per ton on this past Friday, ...
Monday, 07 March 16
FREIGHT MARKET MOVING POSITIVE; ALL SEGMENTS EXCEPT CAPE SHOWING A FIRM TREND
COALspot.com: The freight market was steady this past week and showing a firm trend for all segments except for Cape index.
The Baltic Dry Ind ...
Friday, 04 March 16
GLOBAL ECONOMY'S JITTERS ARE SLOWING DOWN SHIPPING EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The global economy’s shaky condition to say the least is now hampering growth and as a result demand for shipping is slowing down, something ...
Friday, 04 March 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 109.3 MMST; 30.2% LOWER THAN THE COMPARABLE YEAR-TO-DATE COAL PRODUCTION IN 2015 - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 million shor ...
Thursday, 03 March 16
INDIA'S BUDGET NOT ENOUGH TO BOOST STEELMAKERS' PROFITABILITY - FITCH RATINGS
COALspot.com: Fitch Ratings says that increase in proposed infrastructure spending in India's latest government budget is unlikely to provide a ...
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- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- The University of Queensland
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
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