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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, 13 March 15
U.S. COAL PRODUCTION UP 2.3% WEEK OVER WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.5 million short tons (mmst) of coal ...
Friday, 13 March 15
ADARO RECORDED A 7% INCREASE IN EBITDA OF $877 MILLION IN 2014
“Coal market continues to be difficult and challenging” – Adaro Energy
The world’s Top 5 thermal coal exporter, ...
Thursday, 12 March 15
CAPESIZE : ACTIVITY IS LOW; PANAMAX: BIT MORE ACTIVITY; HANDY: A FIRMING WEEK
Handy
It has been a firming week in both hemispheres this week and especially in the Pacific, says Fearnleys AS in its week's week report.
...
Thursday, 12 March 15
COAL MINERS REMAIN UNDER PRESSURE AS GLUT CONTINUES - THE JAKARTA POST
Indonesia’s major coal miners reported a significant drop in their earnings last year as the sharp drop in the global demand, mainly from Chi ...
Thursday, 12 March 15
FOB INDONESIA COAL SWAP DROP TO $47.33 A TON IN THE WEEK ENDED MAR.6
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 0.37 (0.78%) month ...
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- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
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