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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, 08 October 14
OIL COULD FALL TO USD80 BEFORE SHALE SUPPLY RESPONSE - FITCH
COALspot.com: Brent oil could fall as low as USD80 a barrel before triggering a self-correcting supply response with shale-oil drillers cutting inv ...
Wednesday, 08 October 14
IS THERE ANY BRIGHT SIDE ON THE DRY BULK SEGMENT? - YANNIS OLZIERSKY
In the movie “Life Of Brian”, a character on a nearby cross was singing the famous “Always look on the bright side of life” ...
Tuesday, 07 October 14
TAIPOWER TO IMPORT 525K MT OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com: Taiwan Power Company intends to procure 525,000 metric tons of low ash and extra low sulfur sub-bituminous coal for Taipower thermal ...
Tuesday, 07 October 14
SUB-BIT FOB INDONESIA COAL SWAP SHOWS A FLAT TO WEAK TREND THIS PAST WEEK
COALspot.com: Indonesian coal swaps November 2014 delivery flat week on week and gained US$ 0.10 (-0.20%) per mt day on day. The swap also lost US$ ...
Tuesday, 07 October 14
THE RIO TINTO CONFIRMS THAT NO DISCUSSIONS ARE TAKING PLACE WITH GLENCORE
COALspot.com: The board of Rio Tinto notes the recent press speculation regarding a possible combination of Rio Tinto and Glencore.The Rio Tinto bo ...
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- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
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