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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, 12 February 16
DRY BULK MARKET'S FORTUNES STILL TIED WITH CHINA'S ECONOMY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The inevitable slowdown of the Chinese economy was expected to hurt dry bulk shipping, but few expected the blow to be this hard, especially given ...
Friday, 12 February 16
COAL PRICES ARE EXPECTED TO DECLINE 13% IN 2016 TO $50 ATON, ON CONTINUED WEAK DEMAND AND OVERSUPPLY - WORLD BANK
COALspot.com: Thermal coal prices fell 9 percent in the fourth quarter on continued weak demand, high stocks, and surplus production, World Bank sa ...
Friday, 12 February 16
U.S. COAL PRODUCTION OFF 5.4% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.9 million shor ...
Thursday, 11 February 16
GLOBAL NEWBUILDING ORDERBOOK IS SHRINKING ON A DAILY BASIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2016 has started right where 2015 left off when it comes to newbuilding ordering activity, i.e. there are slim pickings to be had from shipyards ar ...
Wednesday, 10 February 16
SOUTH AFRICA IS HOPING TO SHIP MORE COAL TO INDIA IN 2016
COALspot.com: South Africa is hoping to boost coal exports to India after shipping a record 75.4 million tonnes of coal in 2015, industry officials ...
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- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
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