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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, 14 November 14
U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY WEEK ENDING NOVEMBER 08
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Friday, 14 November 14
MORE NATURAL GAS FROM RUSSIA TO HELP STABILISE CHINA PRICES - FITCH RATINGS
COALspot.com: Fitch Ratings has said possible additional natural gas supplies from Russia's OAO Gazprom to China via the Altai pipeline would h ...
Thursday, 13 November 14
SLOWER AND LOWER HAS BEEN THE TREND OF THE PANAMAX IN BOTH HEMISPHERES - FEARNLEYS
Handy
We are experiencing an oversupply of tonnage in the Atlantic which is out numbering the amount of cargoes, Fearnleys broker says in its lat ...
Thursday, 13 November 14
DRY BULK MARKET'S REBOUND HINGES ON IRON ORE OVERSUPPLY ISSUES MOVING FORWARD - HELLENIC SHIPPING NEWS
“One man’s benefit, is another man’s demise” is a phrase which can be used to describe today’s situation in the dry b ...
Thursday, 13 November 14
COAL MINISTER WANTS INDIA TO STOP COAL IMPORTS IN TWO OR THREE YEARS
COALspot.com: India to ramp up coal production to a billion tonnes by 2019 from its current level of 490 million tones. According to Power and Coal ...
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- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- PTC India Limited - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
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