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