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