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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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Saturday, 06 December 14
MUNDRA PORT MAKES HISTORY BY HANDLING THE LARGEST BULK CARRIER TO CALL ON WEST COAST OF INDIA
COALspot.com: Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, yesterday said its Mundra Port successf ...
Friday, 05 December 14
CHINESE SPECIAL STEEL MAKERS' RISK PROFILES MORE RESILIENT - FITCH
Fitch Ratings says the risk profiles of Chinese makers of special steel, especially high-end products, are more like those of manufacturers and mor ...
Friday, 05 December 14
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED AROUND 905 MMST - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19 million short tons (mmst) of coal i ...
Thursday, 04 December 14
CAPE MARKET IS DEVELOPING FROM BAD TO WORSE
Handy
The Atlantic market has been pretty stable and balanced this week, Fearnleys AS says in its latest weekly report.
The broker furt ...
Thursday, 04 December 14
DRY BULK MARKET; ANOTHER DISAPPOINTING WEEK
COALspot.com: For those who have been hoping to see alignment of freight direction across the Dry Bulk market, this must have been another disappoi ...
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- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
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