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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, 11 July 14
UNITED STATE'S MONTHLY COAL OUTPUT FALLS 5.53% IN JUNE
COALspot.com – United States the world's second largest coal producer, produced approximately 18.1 million short tons (mmst) of coal in a ...
Thursday, 10 July 14
SGX EXPANDS ACROSS THE BULKS WITH NEW COAL PRODUCTS
COALspot.com: Singapore Exchange (SGX) is expanding its bulk commodity derivatives offering by launching new coking and thermal coal products on 4 ...
Thursday, 10 July 14
HANDY: SMALL INCREASE; PANAMAX: POSITIVE TONE; CAPESIZE: PAPER VALUES REMAIN WEEK
Handy
It is a general increase in activity in both hemispheres whereas rates have just experienced a small increase. In the Feast we see stable a ...
Wednesday, 09 July 14
SHIP INVESTMENTS ARE TRENDING LOWER
Most ship owners are deeming current ship prices on the high side, refraining from making serious commitments in new acquisitions or newbuilding or ...
Wednesday, 09 July 14
INDIAN GOVERNMENT ADVISED POWER UTILITIES TO INCREASE COAL IMPORTS
COALspot.com: The government of India has advised power utilities to increase coal imports to meet fuel shortages and those that have fuel supply p ...
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- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
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