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