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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, 30 May 14
US COAL PRODUCTION RELATIVELY FLAT WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Thursday, 29 May 14
PEABODY ENERGY CHAIRMAN RECEIVES WCA AWARD
The World Coal Association has presented Gregory H. Boyce, Chairman and Chief Executive Officer of Peabody Energy (NYSE: BTU), with the 2014 Chairm ...
Thursday, 29 May 14
HANDY : THE SUPRAS ARE BEING TRADED AROUND 13K FOR SHORTER UPTO 1 YEAR PERIOD
Handy
The week started off with bank holidays in London and very little happening. This trend has continued and we believe it will continue into ...
Wednesday, 28 May 14
THE DRY BULK MARKET REMAINED UNDER PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market remained under pressure during this past week, with all indices pointing down compared to the previous Friday. Th ...
Tuesday, 27 May 14
PORT OF NEWCASTLE SHIPPED 19.13% LESS COAL THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 26 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
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- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
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