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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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Thursday, 23 January 14
30 DAYS LEFT TO REGISTER FOR PACIFIC BASIN COAL CONFERENCE
COALspot.com: (Press Release) : IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Pacific Basin Coal Confer ...
Wednesday, 22 January 14
HANDY/SMAX: TALK OF RATES INDICATES A STEADY TO FIRMING TREND - INTERMODAL
Last week closed off on the red once more for the Dry Bulk market, which continues to see freight rates trying to get steady feet. Nonetheless, with ...
Wednesday, 22 January 14
EXPORT BAN ON UNPROCESSED MINERALS EFFECTIVE 12 JANUARY 2014 - THREE - YEAR REPRIEVE FOR SOME, BUT UNCERTAINTY REMAINS: PWC
COALspot.com: On 11 January 2014, only hours before a long-debated ban on the export of unprocessed minerals was to come into effect, the Government ...
Wednesday, 22 January 14
DRY SECTOR: SENTIMENT REMAINS STRONG - INTERMODAL
As we have now entered 2014 and the Chinese are soon entering their Year of the Horse (sit tight for the ride!), it is a great opportunity to see ho ...
Wednesday, 22 January 14
SGX SUCCESSFULLY LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore exchanged announced that, SGX Freight Futures were successfully launched on 20 January 2014, and the first trade ...
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- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
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