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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, 29 November 16
US WEEKLY COAL OUTPUT TOTALS 17.2 MMST, UP 2.8% : EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17.2 million short ton ...
Monday, 28 November 16
BALTIC DRY INDEX FALLS TO 1181 POINT, DOWN 76 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities down slightly and ending in a negative note this past wee ...
Thursday, 24 November 16
SUPRAMAX: SOUTH AFRICA STILL STRONG WITH OWNERS ACHIEVING AROUND USD 14-15K FOR TRIPS EAST - FEARNLEYS
Supramax
A positive kick-off in both the Atlantic and the Pacific. Very healthy rates within USG, some supras receiving well over 20k for trips t ...
Wednesday, 23 November 16
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
The Organization of the Petroleum Exporting Countries (OPEC) is due to finalize a reduction in total production at its next scheduled meeting in Vi ...
Tuesday, 22 November 16
ITALY'S STEAM COAL IMPORTS EXPECTED TO DECLINE 7% Y/Y TO 15 MILLION TONS IN 2017 - ITALIAN COAL ASSOCIATION
Italy’s steam coal imports expected to decline to 15 million tons in 2017, or 7% less imports compared to 2016. The coking coal imports are e ...
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- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Planning Commission, India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
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