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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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Tuesday, 13 November 18
INDIA: POWER DEMAND UP; COAL STOCKS AT MINES AT A 5-YEAR LOW - FINANCIAL EXPRESS
Stocks at Coal India mines plunged to a five-year low of 21 million tonne (mt) in October, as a sudden surge in demand for the fuel from the power ...
Monday, 12 November 18
COAL BUSINESS REMAINS PROSPECTIVE - ANTARA
Coal business happened to be sluggish in the 2012-2015 period because coal prices in the world market fell sharply, but it has begun to crawl up si ...
Monday, 12 November 18
INDONESIA'S HBA ENDS DECLINE IN NOVEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 07 November 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
This has been another active week in the second-hand market for both the dry bulk and tanker sectors. Buying interest has recently increased, which ...
Monday, 05 November 18
TIGHTER FUEL RULES COULD RAISE SHIPOWNERS' COSTS AND CAPEX - FITCH RATINGS
More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies’ operating costs and capex n ...
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- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
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