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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, 25 April 14
US PRODUCED APPROXIMATELY 19 MILLION SHORT TONS OF COAL IN A WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 25 April 14
2ND MYANMAR ELECTRIC POWER CONVENTION 2014 IS THE GATEWAY TO MYANMAR POWER INDUSTRY!
Press Release: 2nd Myanmar Electric Power Convention (MEPC) 2014 is scheduled on 21-23 October, 2014 at Traders Hotel in Yangon, Myanmar. MEPC o ...
Friday, 25 April 14
DRY BULK MARKET LOOKING FOR NEW TRACTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market seems to have gained its footing after the past few dissapointing weeks, during which the Baltic Dry Index (BDI) shedded mos ...
Thursday, 24 April 14
HANDY : A FLOW OF FRESH REQUIREMENTS LIFTING THE PACIFIC SLOWLY TO US$ 10-11 K BSS SINGAPORE FOR COAL ROUNDS
Handy
There is still no place to hide in the Atlantic for the smaller but flexible sizes. Slow and weak seems to be the headlines, although th ...
Wednesday, 23 April 14
EUROPE WOULD BE HARD PRESSED TO REPLACE RUSSIAN GAS, FITCH RATINGS SAYS
A ban on Russian gas imports to the EU would cause substantial disruption to Europe's economy and industry, Fitch Ratings says. In the immed ...
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- Ministry of Transport, Egypt
- White Energy Company Limited
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
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