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