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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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Friday, 10 August 18
U.S. COAL PRODUCTION TO DECLINE BY 1.8% IN 2019 BECAUSE COAL EXPORTS AND COAL CONSUMPTION ARE BOTH FORECAST TO DECREASE - EIA
EIA forecasts U.S. coal production will decline by 1.1% to 766 million short tons (MMst) in 2018 despite a 5.7% (6 MMst) increase in coal exports.
...
Thursday, 09 August 18
RIO TINTO COMPLETES SALE OF REMAINING COAL ASSETS
Rio Tinto has completed the sale of its remaining coal assets in Queensland, Australia, for $3.95 billion.
According to a noted post ...
Wednesday, 08 August 18
CHINA DEMANDS PREMIUM IRON ORE, COAL; MINERS MIXED IMPACT - FITCH RATINGS
China’s stricter environmental regulations and structural changes in its steelmaking industry boosts ongoing demand for high-quality iron ore ...
Wednesday, 08 August 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
Singapore's shipyard business has evolved over the decades, from shipbuilding and repairs to rig building. It's now evolving again, to cate ...
Friday, 03 August 18
PHEW! ASIA, EUROPE HEATWAVE PUSHES AUSTRALIA COAL PRICES TO 6-YEAR HIGH: REUTERS
Australian thermal coal prices have hit fresh six-year highs as a heatwave across the northern hemisphere has triggered a spike in demand for coal- ...
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- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- The University of Queensland
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
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