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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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Thursday, 10 December 15
CANADIAN MINER TECK ANNOUNCES LNG HAUL TRUCK PILOT PROJECT
Teck Resources Limited is piloting the use of liquefied natural gas (LNG) as a fuel source in six haul trucks at its Fording River steelmakin ...
Thursday, 10 December 15
FOB RICHARDS BAY COAL Q3' 16 DELIVERY SWAP WAS CLOSED 7.27% PER TON LOWER COMPARED TO AVERAGE Q1' 16 DELIVERY PRICE
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
Wednesday, 09 December 15
U.S. COAL EXPORTS DECLINE IN 2015 DUE TO SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES - EIA
COALspot.com: The slower growth in world coal demand and lower international coal prices have contributed to a decline in U.S. coal exports in 2015 ...
Wednesday, 09 December 15
DRY BULK EXPERIENCES THE PERFECT STORM - PANOS TSILINGIRIS
Dry bulk experiences the perfect storm as the slowing of demand predominantly because of China sat atop the exaggerated oversupply. The BDI broke t ...
Tuesday, 08 December 15
OPEC'S DECISION BODES WELL FOR THE TANKER MARKET: STRONG MIDDLE EAST CRUDE EXPORTS WILL CONTINUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
OPEC’s latest decision to keep up oil production is seen by shipbrokers as a further boost for the tanker market. At the end of last year OPE ...
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- Posco Energy - South Korea
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Planning Commission, India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
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