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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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Monday, 04 November 19
COAL INDIA'S OCTOBER PRODUCTION MAY FALL 20% - PTI
Coal India’s production in October is likely to be 19-20 per cent lower at about 40 million tonne, as compared to 49.77 million tonne produce ...
Monday, 04 November 19
PANAMAX: WEAKER SENTIMENTS CONTINUED FROM LAST WEEK, WITH RATES FURTHER SOFTENING IN BOTH BASINS - BALTIC BRIEFING
Capesize
The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, t ...
Thursday, 31 October 19
U.S. COAL-FIRED POWER PLANTS SCHEDULED TO SHUT - REUTERS
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,30 ...
Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, ...
Monday, 28 October 19
ULTRAMAX: ASIA RATES REMAINED UNDER PRESSURE WITH THE NORTH LACKING FRESH ENQUIRY - BALTIC BRIEFING
Capesize
The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop ...
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- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- The University of Queensland
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
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