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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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Monday, 12 May 14
TAIPOWER TO IMPORT AROUND 1 MMT OF SUB-BITUMINOUS COAL DURING AUGUST 2014 THROUGH NOVEMBER 2014
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open t ...
Monday, 12 May 14
DRY BULK MARKET IS STILL STRUGGLING TO FIND FIRM FOOTING
COALspot.com: The freight market continued to be weak and the BDI closed slightly lower at 997 points or fell 1.96 pct week on week. The cape in ...
Friday, 09 May 14
RBCT SHIPPED 5.4 MMT OF COAL IN APRIL
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest coal export terminal in the world, shipped 5.45 million to ...
Friday, 09 May 14
DRY BULK MARKET: BANKRUPTCY TONNAGE UNLEASHED
Drewry’s latest Dry Bulk Forecaster saw freight rates on most routes declined in 2014’s first quarter as the previous quarter’ ...
Friday, 09 May 14
UNITED STATES COAL PRODUCTION SLIGHTLY SLIDES TO 82.4 MMST IN APRIL
COALspot.com – United States the world's second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal i ...
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- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
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