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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, 31 March 14
CFR SOUTH CHINA COAL SWAP FOR Q2 14 DELIVERY LOST 1.17% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.17 percent month on month and closed at US$ 75.38 per m ...
Sunday, 30 March 14
FREIGHTS FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK - REDDY
COALspot.com: The freight market dropped drastically and all sectors were affected severely.
The BDI was down by 14.13 pct and closed at 1, ...
Friday, 28 March 14
US PRODUCED APPROXIMATELY 18.9 MMST IN A WEEK - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Friday, 28 March 14
CHINA'S ENVIRONMENTAL MEASURES WILL NOT CURB GROWTH IN DOMESTIC STEEL PRODUCTION AND SEABORNE IRON ORE - WOOD MACKENZIE SAYS
Steel plants in China have been targeted as a major source of the toxic smog enveloping Beijing and Shanghai. Emergency measures have been impos ...
Thursday, 27 March 14
PANAMAX : SEEMS TO HEAD FURTHER DOWN; CAPESIZE : ANOTHER CHOPPY AND UNPREDICTABLE WEEK - FEARNLEYS AS
Handy
A weaker sentiment for the smaller size as well, with reduced activity in the Atlantic where Owners have to face significantly lower ret ...
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- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
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