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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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Sunday, 20 July 14
THE FREIGHT MARKET CONTINUED ITS DOWNWARD TREND
COALspot.com: The market continued its downward trend this week as all segments were down compared to last week. The Cape and Panamax indices being ...
Friday, 18 July 14
3RD CHINA INTERNATIONAL SHALE GAS SUMMIT
Building on the massive success of the past 2 shale gas programs that has generated huge success by attracting 500+ industry players, and intrig ...
Friday, 18 July 14
US WEEKLY COAL PRODUCTION UP BY 1.4% TO 18.3 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
Thursday, 17 July 14
PANAMAX : MARKET HAS COOLED DOWN AGAIN TO LOW AND DEPRESSED LEVELS
Handy
The supra market remains pretty flat in the Atlantic while for the smaller sizes there has been little reported with ships chasing business ...
Thursday, 17 July 14
INDIAN GOVERNMENT WISE TO TAKE ADVANTAGE OF CURRENTLY LOW THERMAL COAL PRICES AND SHIPPING RATES - JEFFREY LANDSBERG
With thermal coal import prices (and also shipping rates) very low at present, India's government would be very wise to take advantage of curre ...
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- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- White Energy Company Limited
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- VISA Power Limited - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
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