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