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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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Wednesday, 09 April 14
DRY BULK MARKET STRUGGLED THROUGHOUT THE WEEK - INTERMODAL
The Dry Bulk market struggled throughout the week but the poor performance across the board didn't allow for any positive reversal, pushing ...
Tuesday, 08 April 14
PORT OF NEWCASTLE SHIPPED 2.90 MMT OF POWER PLANT AND SEMI-SOFT COKING COAL IN A WEEK
COALspot.com: In the week ended 07:00 hours 7 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensla ...
Tuesday, 08 April 14
RBCT SHIPPED 53.79% MORE COAL IN MARCH 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 6.90 million to ...
Tuesday, 08 April 14
APRIL 2014 INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST SINCE JANUARY 2010
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 2.20 / MT to ...
Tuesday, 08 April 14
TALKING ABOUT A ONE-HORSE RACE - GEORGE LAZARIDIS
Ever since the onslaught of the financial crisis, China along with the other BRIICs, have played a pivotal role in supporting global economic gr ...
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- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- The University of Queensland
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- White Energy Company Limited
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Australian Coal Association
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
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