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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, 05 September 14
U.S. PRODUCED 19.2 MMST OF COAL LAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 04 September 14
PUNJAB STATE POWER CORPORATION LIMITED OF INDIA HAS DECIDED TO BUY IMPORTED COAL - HINDUSTAN TIMES
COALspot.com: The Punjab State Power Corporation Limited (PSPCL) has decided to buy imported coal to run its thermal plants, as reported by Hindust ...
Thursday, 04 September 14
INDONESIAN COAL MINERS MAY GET MORE TIME ON ROYALTIES - FITCH RATINGS
COALspot.com: Fitch Ratings says that coal miners in Indonesia are likely to get more time to repay the government the royalties that were set off ...
Thursday, 04 September 14
INDONESIAN COAL SWAPS SLIDE THIS PAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.90 (-1.68%) day on day and US$ 1.80 (-3.31%) per mt week on week. The ...
Thursday, 04 September 14
CAPESIZE : SENTIMENT REMAINS POSITIVE FOR Q3/Q4 - FEARNRESEARCH
Handy
The Atlantic market has experienced more activity this week. Rates for TA´s are up about 8% w-o-w, much lead by an increasing number ...
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- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- MS Steel International - UAE
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
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