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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, 13 December 13
HARD COAL : VOLUMES POSSIBLY AT RECORD-BREAKING HIGH; PRICES POSSIBLY AT A RECORD-BREAKING LOW - VDKI
Press Release : World Hard Coal Market 2013: volumes possibly at record-breaking high, prices possibly at a record-breaking low. German and UK impor ...
Friday, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
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- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
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