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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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Sunday, 09 June 13
IRON ORE DEMAND: WEAK; COAL MOVEMENT: STEADY TO INDIA AND CHINA - CAPT. REDDY
COALspot.com - The freight market was fairly steady with BDI up by 0.37 per cent closed at 812 points this week.
The Cape index was also ended in ...
Friday, 07 June 13
MEDITERRANEAN COAL MARKETS
Press Release: 3rd International Conference Mediterranean Coal Markets will be held on 16-17th of September 2013, Istanbul, Turkey, Ceylan Intercont ...
Friday, 07 June 13
US'S COAL PRODUCTION INCREASED BY 0.54 PER CENT THE WEEK ENDED JUNE 1
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.60 million short tons (mmst) of ...
Thursday, 06 June 13
WE ARE SEEING SOME FRESH INDO COAL TO CHINA AND INDIA - FEARNRESEARCH
Handy
In the Atlantic, the Gulf remains firm for the next week with a few orders in the market. The Supramaxes are seeing around low 20k for fronth ...
Wednesday, 05 June 13
DON'T AVOID PAYING COAL ROYALTY TO THE GOVERNMENT - INDONESIAN ENERGY MINISTER
COALspot.com – “Every country has the right to make policies to protect their national interests”, Energy and Mineral Resources Mi ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
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