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