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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, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.6 million short tons (mmst) of coal ...
Wednesday, 10 December 14
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS, INTERMODAL
COALspot.com: As 2014 is coming to an end, we look back to what has happened during the year and notice that SnP activity has been particularly sof ...
Wednesday, 10 December 14
WORLD HARD COAL MARKET 2014: PRODUCTION AND TRADE STAGNATING, IMPORTS TO GERMANY AND EUROPE ON THE DECLINE
Press Release: German Coal Importers Association (VDKi) criticizes regulations ordering reduction of CO2 emissions from coal-fired power plants as ...
Tuesday, 09 December 14
PRESSURE ON CHINA COAL MINERS TO CONTINUE DESPITE GOVERNMENT SUPPORT - FITCH
COALspot.com: Fitch Ratings says that Chinese coal mining companies will continue to be pressured by low prices, which will persist despite recent ...
Tuesday, 09 December 14
Q4' 2015, FOB INDONESIA COAL SWAP CLOSED AT $ 49.02 W/E 5 DEC
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 0.2 ...
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- Mercator Lines Limited - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Australian Coal Association
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- The University of Queensland
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
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