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