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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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Tuesday, 24 February 15
IHS ENERGY COAL CONFERENCE OF THE AMERICAS
Attend the IHS Energy Coal Conference of the Americas 17-19 March in Cartagena, Colombia and learn about timely concerns in today's coal indust ...
Monday, 23 February 15
Q2' CFR SOUTH CHINA COAL SWAP FOR Q2 ROSE 3.39% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.90 (+3.39%) per MT month over month and declined US$ 0.08 ...
Monday, 23 February 15
Q2' API 5 FOB NEWCASTLE COAL SWAP CLOSED $1 HIGHER THAN Q3
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.12 per MT (+6.44%) month over month and fall US$ 0.43 (-0.83%) w ...
Sunday, 22 February 15
THE BALTIC DRY INDEX LOST ALMOST 3.2% OR 17 POINTS WEEK ON WEEK
COALspot.com: The Baltic Dry Index, one of the economic indicators that monitors the health of the world's economy by tracking the price of shi ...
Friday, 20 February 15
GOVT SET TO INCREASE COAL OUTPUT TARGET THIS YEAR - JAKARTA POST
The Energy and Mineral Resources Ministry is planning to increase its coal output target this year as the government seeks to offset the ongoing de ...
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- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
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