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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, 08 May 15
COAL PRODUCTION IN U.S. UP 3.2% THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
Wednesday, 06 May 15
COMBINATION OF HOLIDAYS AND A SHAKY MARKET PUT ADDITIONAL PRESSURE ON RATES
COALspot.com: The combination of holidays and a shaky market is always a recipe for additional pressure on rates and last week was no exception. Wi ...
Wednesday, 06 May 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
The first four months of 2015 are now behind us and they make up for a decent amount of time to look back and assess how the year is evolving so fa ...
Tuesday, 05 May 15
MIFA BERSAUDARA UNIT OF ABM INVESTAMA STARTS OPERATING $200M COAL MINE IN ACEH
Reswara Minergi Hartama, a coal mining unit of coal miner ABM Investama known as known as Reswara, inaugurated a $200 million integrated coal minin ...
Tuesday, 05 May 15
FREIGHT DERIVATIVE VOLUMES REACHED TOTALED 14,154 CONTRACTS IN APRIL - SGX
COALspot.com: “Our unique suite of freight and bulk commodity products provides market participants with a wide range of trading strategies a ...
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- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Edison Trading Spa - Italy
- PTC India Limited - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
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