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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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Saturday, 10 August 13
MOODY'S: OUTLOOK FOR US COAL INDUSTRY CHANGES TO STABLE FROM NEGATIVE
Moody's Investors Service has changed its outlook for the US coal industry to stable from negative, the rating agency says in a new report, "U ...
Saturday, 10 August 13
DEMOLITION ACTIVITY TO BE CRUCIAL AGAIN IN PROVIDING SUPPORT TO THE DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We appear to have forgotten demolition activity this year, with the Baltic Dry Index gaining traction in the latter part of the second half and emer ...
Friday, 09 August 13
US PRODUCED 4.00 PERCENT LESS COAL ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.00 million short tons (mmst) of ...
Thursday, 08 August 13
HANDY : NO POSITIVE SENTIMENT FOR THE FAR EAST MARKET - FEARNRESEARCH
Handy
No positive sentiment for the Far East market. There are a number of ships coming open in SE Asia this week and owners rating mid/high USD 8k ...
Thursday, 08 August 13
MALAYSIA HOSTS THIRD ANNUAL ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release : The third Annual Asian Sub-Bituminous Coal Users’ Group (ASBCUG) conference convenes Sept. 30-Oct. 3 at the Eastern & Orie ...
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- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
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