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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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Wednesday, 21 January 15
PANAMAX MARKET MOVED SIDEWAYS OVERALL LAST WEEK - INTERMODAL
COALspot.com: The positive sentiment in which the week prior ended carried on through-out last week as well, the end of which marked the first posi ...
Wednesday, 21 January 15
SHIFT IN INTERNATIONAL COAL TRADE TO THE PACIFIC BASIN WILL CONTINUE - IMF
COALspot.com: The shift in international coal trade to the Pacific Basin will continue, IMF said in its latest Medium-Term Coal Market Report.
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Wednesday, 21 January 15
MARKET INSIGHT - VASSILIS LOGOTHETIS, INTERMODAL
The World Bank has lowered its forecast for global growth in 2015 to 3% down from its previous level of 3.4% amid rising concerns over the economic ...
Wednesday, 21 January 15
THERMAL COAL PRICE OUTLOOK DEPENDENT ON INDIAN IMPORT DEMAND - MATTHEW BOYLE, CRU
COALspot.com: Supply and demand side developments in India will be an important determinant of future market dynamics and prices for thermal coal a ...
Wednesday, 21 January 15
PORT OF NEWCASTLE COAL EXPORTS JUMP 16.19% ON MONTH TO 15.80 MIL MT IN DECEMBER' 14
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.136 billi ...
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- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- MS Steel International - UAE
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
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