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