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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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- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
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