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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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Friday, 19 February 16
INDONESIAN HBA HITS A NEW LOWS BELOW $51 A TON AS OVERSUPPLY, LOW DEMAND WOES PERSIST
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016. HBA has slumped second time t ...
Friday, 19 February 16
U.S. WEEKLY COAL PRODUCTION ROSE 2.6% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.2 million shor ...
Thursday, 18 February 16
INDIA NEEDS INTERNATIONAL SUPPORT ON HIGH EFFICIENCY COAL - WORLD COAL ASSOCIATION
Speaking at a conference in New Delhi today, World Coal Association Chief Executive Benjamin Sporton said the critical role of coal in driving econ ...
Thursday, 18 February 16
CHINA COAL SECTOR - 2015 RESULTS BLEAK, 2016 UNLIKELY TO BE ANY BETTER - FITCH
COALspot.com: China Coal Sector’s Financial Woes to Worsen in 2016.
Fitch Ratings says that the 2015 full-year result previews issued by ...
Thursday, 18 February 16
PANAMAX RATES OUT OF ECSA WERE STILL GAINING A PREMIUM OVER THE REST OF THE MARKET - INTERMODAL
The BDI moved further down last week, fact that hardly took anyone by surprise as the lunar year holidays in Asia on top of the already depre ...
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- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Australian Coal Association
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
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