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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, 10 April 15
US COAL PRODUCTION FELL 4.7% W-O-W : EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
Friday, 10 April 15
DRY BULK MARKET'S DOWNFALL ALSO OFFER INVESTMENT BARGAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk market rates have fallen to historical lows over the past few weeks, with no clear path of recovery, at least in the near term. As such, m ...
Thursday, 09 April 15
CAPESIZE: RATES ARE STILL DISAPPOINTING - FEARNLEYS
Handy
The handy market had a stronger sentiment before the Easter holidays, but have as the bigger panamaxes seen a softening tendency this week. ...
Wednesday, 08 April 15
DRY BULK MARKET SEEMS UNABLE TO CATCH A BREAK - INTERMODAL
COALspot.com: The Dry Bulk market seems unable to catch a break these days.
According to Intermodal, following the market stabilization that p ...
Wednesday, 08 April 15
CHINA BURNS HALF OF THE WORLD'S COAL - CHRISTOPHER T. WHITTY
Intermodal Weekly Market Update
China is the world's largest consumer of coal, using more coal each year than the United States, the Europ ...
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- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- The University of Queensland
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
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