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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, 24 March 14
SGX'S Q2'14 CFR SOUTH CHINA COAL SWAP CLOSES SLIGHTLY HIGHER W-O-W
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.81 percent month on month and closed at US$ 74.82 per mt as o ...
Sunday, 23 March 14
THE COAL FREIGHT RATES SEEN SLIGHTLY FIRMING UP THIS WEEK - REDDY
COALspot.com: The freight market firmed up this week. BDI was up 8.26 pct week on week and index was closed at 1599 points. The Cape index was u ...
Saturday, 22 March 14
SHIP OWNERS INVEST $15 BILLION FOR NEWBUILDINGS AND SECONDHAND VESSELS DURING FEBRUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have kept on their aggressive stance in the investment scene both for newbuildings, as well as for secondhand vessels globally durin ...
Friday, 21 March 14
DRY BULK MARKET STAYS ON RECOVERY MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has reached new year heighs, as a result of renewed Capesize demand. The Baltic Dry Index (BDI) ended yesterday's sessio ...
Friday, 21 March 14
US COAL PRODUCTION UP 1.5%; WEST MISSISSIPPI COAL PRODUCTION DOWN 1.85% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
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- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- PTC India Limited - India
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