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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, 30 January 17
DUE TO LUNAR YEAR HOLIDAYS, THE FREIGHT MARKET STAYED WEAK
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was down in all segments this past week.
The Baltic Exchange, tra ...
Friday, 27 January 17
U.S WEEKLY COAL OUTPUT RISES FOR THIRD STRAIGHT WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Wednesday, 25 January 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
Remember that old but classic song called “Destination Unknown”? Well that is where the oil market is heading right now. The song made ...
Tuesday, 24 January 17
MARKET UPDATE - ALLIED
This week at the World Economic Forum in the Swiss resort of Davos we had a historic first via the attendance and speech given by China’s pre ...
Monday, 23 January 17
THE PORT OF NEWCASTLE SHIPPED $AU 15.279 BILLION WORTH OF 161.399 MILLION TONS OF COAL IN 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,453.1 M ...
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- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Planning Commission, India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
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