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