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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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Monday, 24 August 15
IS CHINA'S STEEL EXPORTS ENOUGH TO SUPPORT THE FREIGHT MARKET? - BIMCO
No, it’s not enough, you will need lower Chinese iron ore production too in order to keep growing imports of iron ore into China that will su ...
Sunday, 23 August 15
SHIPPING FREIGHT RATES FALL SHARPLY ON EXCESS SUPPLY AND LOW DEMAND
COALspot.com: The BDI continued to soften and was down 5.78 pct and falls back below 1000 points this week.
The cape Index lost 17.25 per cent ...
Friday, 21 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION VOLUME FALLS 8.7% Y-O-Y
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.3 million shor ...
Friday, 21 August 15
GLOBALCOAL TO LAUNCH ONLINE TRADING OF PHYSICAL MET COAL ON 13 OCTOBER
On 13 October 2015, globalCOAL will launch an online platform for the physical procurement and trade of high quality hard coking coal delivered FOB ...
Thursday, 20 August 15
COAL PRICES FALL TO 12-YEAR LOWS AS CHINA, INDIA JOIN DEMAND SLOWDOWN - REUTERS
Coal futures have fallen to 12-year lows, hit by soaring production and a slowdown in global buying, including from India and China which until rec ...
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- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Planning Commission, India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
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