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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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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- The University of Queensland
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
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