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