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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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- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
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