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