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