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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, 02 May 14
US WEEKLY COAL PRODUCTION RELATIVELY FLAT AT -0.1%, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 02 May 14
DRY BULK MARKET SHOWING SIGNS OF COMEBACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market which has been hovering below the 1,000-point market (BDI) during the past couple of weeks, could be exhibiting signs of a s ...
Thursday, 01 May 14
INDONESIA EXPORT BAN POINTS TO QUESTIONS OVER CHINA'S LONG-TERM BAUXITE SUPPLY - WOOD MACKENZIE
China’s Bauxite demand forecast to reach 240 million tonnes by 2030
In light of the Indonesian mineral ore ban that came into force o ...
Thursday, 01 May 14
DRY BULK MARKET STILL REELING UNDER PRESSURE FROM VARIOUS FACTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's revival is still overdue, as the industry's benchmark, the BDI is still lagging below the 1,000-point mark. In fac ...
Wednesday, 30 April 14
FREIGHT MARKET FOR DRY BULKERS STILL REMAINS WEAK - INTERMODAL
One week after the Easter holiday and the celebration for the resurrection of Christ, everybody expected to see a similar sign of a revival in t ...
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- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
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