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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, 04 October 13
US COAL PRODUCTION UP 2.1% WEEK ON WEEK - EIA
COALspot.com – United States the world’s second largest coal producer produced approximately 19.70 million short tons (mmst) of coal in ...
Thursday, 03 October 13
INDONESIA AUGUST COAL EXPORTS FALL 12.90 % FROM JULY TO 30.71 MIL MT
COALspot.com: Indonesia, the 15th largest economy in world, 4th largest coal producer in world and world's largest multi grade coal exporter ...
Thursday, 03 October 13
TOP FOUR U.S. COAL COMPANIES SUPPLIED MORE THAN HALF OF U.S. COAL PRODUCTION IN 2011 - EIA
In the past two years, more than half of U.S. coal production was attributable to the top four coal producers, the result of changes in regional pro ...
Thursday, 03 October 13
HANDY: PERIOD MARKET STAND IN GOOD POSITION - FEARNRESEARCH
Handy
Nickel ore and Bauxite was active last week but slowed down now due to Chinese holidays. Ships opened in North China fixed at US$ 11-13k leve ...
Wednesday, 02 October 13
DRY BULK MARKET IS STILL MAINTAINING ITS UPWARD DIRECTION
Chartering (Wet: Stable- / Dry: Firm+)
Despite the fact that rates for Capes didn't continue their crazy ride this past week, the Dry Bulk market ...
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- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
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