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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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Wednesday, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
COALspot.com: The Dry Bulk market closed on the red for yet another week although following Friday sentiment has started to improve on the back of ...
Tuesday, 21 October 14
INDIA'S DIESEL DEREGULATION POSITIVE FOR OIL COMPANIES - FITCH
The Indian government's 18 October decision to deregulate diesel prices will have a positive effect on the national oil marketing companies tha ...
Tuesday, 21 October 14
LOW DEMAND PUTTING COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost on day, week and month.
The swap has lost US$ 1.57 (-3.04%) month on month ...
Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix ...
Monday, 20 October 14
CFR SOUTH CHINA COAL SWAPS FAILED TO PERFORM POSITIVE
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 3.04 (-4.57%) month over month and US$ 1.75 (-2.68%) week o ...
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- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- The Treasury - Australian Government
- Minerals Council of Australia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
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