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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, 23 May 14
U.S. WEEKLY COAL PRODUCTION SLIPS 1.8% WEEK ENDED MAY 17, 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 23 May 14
DRY BULK NEWBUILDING CANCELLATIONS COULD HELP SUPPORT MARKET IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's demise over the past few months maybe has come as a surprise to many, but analysts and shipbrokers are looking forward to ...
Thursday, 22 May 14
HEAR SUCCESSFUL CASE STUDIES FROM 10 INDEPENDENT UNCONVENTIONAL GAS OPERATORS
Unconventional Gas Asia 2014 will provide a unique opportunity for Asia’s unconventional gas leaders to share their experience and expertise ...
Thursday, 22 May 14
CNPC-GAZPROM DEAL A MEDIUM - TERM POSITIVE FOR CHINA'S GAS SECTOR
Fitch Ratings says a 30-year deal in which Russia's OAO Gazprom (BBB/Negative) will supply gas to China National Petroleum Corporation (CNPC; A ...
Thursday, 22 May 14
CAPESIZE : RATES ARE STILL UNDER PRESSURE
Handy
A quiet start into the week in Far East, some fresh Indonesian coal order in the market. For trips within S.E. Asia, Supras are trading aro ...
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- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Planning Commission, India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Thai Mozambique Logistica
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
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