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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, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
Friday, 07 March 14
US PRODUCED 19.4 MMST OF COAL IN PAST 7 DAYS, SAYS EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.4 million short tons (mmst) of coal in ...
Thursday, 06 March 14
PANAMAX MARKET IS STRUGGLING IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
The Handy/Supra market experienced a rate increase in the Pacific. The activity itself is not too big, but spot tonnage is clearing up and ow ...
Wednesday, 05 March 14
THE BIG BULKERS HAVE IN FACT WITNESSED SIGNIFICANT IMPROVEMENTS IN BOTH BASINS
The BDI continues to gain back some of the lost ground, although in reality there isn't a lot to celebrate abou ...
Wednesday, 05 March 14
LEAVE IT TO CAPES TO CHANGE THE DIRECTION OF THE DRY BULK MARKET - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
Leave it to Capes to change the direction of the Dry Bulk market. The big bulkers managed to drag the BDI ...
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- PTC India Limited - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Australian Coal Association
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- GMR Energy Limited - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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