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