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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, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling ...
Friday, 24 April 15
IS INDIA THE 'NEW CHINA' WHEN IT COMES TO THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been feeling the “heat” of China’s slowdown and together with the industry’s own failings, with ove ...
Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
COALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.
Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.0 million short ...
Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
COALspot.com: The Dry Bulk market managed to close off the week on a positive note last Friday, while as opposed to what we have been used to, it w ...
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- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- The University of Queensland
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
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