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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, 08 August 14
CAPESIZE RATES ARE REMAINING MORE OR LESS UNCHANGED AT BOTTOM LOW LEVELS - FEARNLEYS AS
Handy
An improving sentiment with stronger rates and fair demand for prompt tonnage in the Atlantic, both on the Continent and in the Med for the ...
Friday, 08 August 14
U.S PRODUCED 35.80 MMST OF COAL IN JULY; UP 7.89 MONTH OVER MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.50 million short tons (mmst) of coal in ...
Friday, 08 August 14
PORT OF NEWCASTLE SHIPPED 19.52% MORE COAL IN JULY FROM LAST MONTH
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped 14,036,947 t ...
Thursday, 07 August 14
SHORT-TERM COAL OUTLOOK IMPROVES - SAM QUEST
With demand for and supply of coal to grow in the near future, prices are expected to rebound in the short term; the long-term prospects, however, ...
Thursday, 07 August 14
BULKING UP IN AFRICA: CHINA INFLATES SEABORNE MINERALS EXPORT TRADE - RICHARD SCOTT
Africa’s profile as an exporter of dry bulk commodities is rising. Responding to growing import demand from China, India and other buyers in ...
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- Economic Council, Georgia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- The University of Queensland
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