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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, 10 October 14
INDONESIA TO DEVELOP DOWNSTREAM COAL INDUSTRY - JP
The government is planning to launch a program to develop the downstream coal industry to increase the commodity’s added value, an official h ...
Friday, 10 October 14
U.S. PRODUCED 83.2 MMST OF COAL IN SEPTEMBER, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.6 million short tons (mmst) of coal in ...
Thursday, 09 October 14
CAPESIZE MARKET HAS CONTINUED TO SHOW WEAKNESS - FEARNLEYS
Handy
We mentioned last week that after several weeks of rate increase for the Supras, the bigger Panamaxes started to snap up better paying Supr ...
Thursday, 09 October 14
SHIPPING REMAINS CHALLENGED AS GLOBAL GROWTH DISAPPOINTS - BIMCO
The global shipping industry finds no grace from much stronger economic activity going forward, as the global recovery remains fragile and uneven. ...
Wednesday, 08 October 14
CAPES RATE FOR THE W. AUSTRALIA TO CHINA VOYAGE MOVED TO BELOW $8/MT - INTERMODAL
The Dry Bulk market remained under pressure last week, with rates for Capes remaining on the red while those for Panamaxes managed to outperform th ...
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- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
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