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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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- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Planning Commission, India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
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