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