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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, 13 November 15
WEAK CHINA POWER DEMAND DAMPENS COAL CONSUMPTION - FITCH
The weak growth in China's electricity consumption in 2015, together with increasing non-thermal power generation capacity are exerting more pr ...
Friday, 13 November 15
DRY BULK, IT IS HARD TO MAINTAIN AN OPTIMISTIC VIEW FOR THE NEXT COUPLE OF MONTHS - INTERMODAL
COALspot.com: The dry bulk owners looking for cover remained under pressure for size segments across the board. With Capes closing off the week as ...
Friday, 13 November 15
WEEKLY US COAL PRODUCTION DECLINES TO 16.5 MMST; SLIDE 14.9% Y-Y: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Thursday, 12 November 15
FOREIGN COAL MINE ACQUISITION - STRATEGY VERSUS OPPORTUNITY FOR INDIAN UTILITIES - DIPESH DIPU
The acquisition market for thermal coal assets abroad is dull. Sellers of all hues are in the market; some are actively scouting for buyers while o ...
Thursday, 12 November 15
PORT OF NEWCASTLE'S COAL EXPORT VOLUME UP IN OCTOBER 2015
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.254 billio ...
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- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Aditya Birla Group - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
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