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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, 20 December 16
TRADE HAS FELT ITS BUMPS AND SHAKES THIS YEAR - GEORGE LAZARIDIS
Trade has felt its bumps and shakes this year, as growing populist protectionist and nationalist movements in the Western world start to take hold. ...
Tuesday, 20 December 16
TURNAROUND IN CHINESE ECONOMY HAS INTENSIFIED RECENTLY, SAYS COMMODORE RESEARCH
According to the most recent Weekly China Report published by Commodore Research, it has remained encouraging that the turnaround in China’s ...
Monday, 19 December 16
U.S. WEEKLY COAL PRODUCTION DOWN 3.1% PERCENT WEEK ON WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
Monday, 19 December 16
THE FREIGHT MARKET WAS CONTINUING TO SOFTEN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continually decline this past week and ending on a negati ...
Thursday, 15 December 16
SUPRAMAXES ARE ACHIEVING AROUND HIGH USD 7K FOR INDO/CHINA COAL ROUNDS - FEARNLEY
Supramax
Pacific has been relatively quiet this week, with some softening signs.
Supramaxes are achieving around high USD 7k for Indo/China ...
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- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Australian Coal Association
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
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