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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, 07 October 16
INDONESIA'S DEMAND FOR COAL REMAINS STRONG: BP
Indonesia's domestic demand for coal shows no sign of slowing down as the country is banking on its coal abundance to meet the country' ...
Friday, 07 October 16
CEYLON SHIPPING CORPORATION HAS TAKEN DELIVERY OF COAL CARRIER MV.CEYLON PRINCESS
Sri Lanka’s Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier for the transportation of coal to pow ...
Friday, 07 October 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 540.5 MMST; DOWN 21.9% Y-O-Y, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 06 October 16
SHIPS IN PACIFIC ACHIEVE JUST ABOVE $10K DAILY FOR A BRAZIL ROUND VOYAGE - FEARNLEYS
Supramax
Slower week with limited activity due to holidays in the East. Mixed feelings within different markets, with slight downturn in Pacific ...
Wednesday, 05 October 16
OPEC TO SHUT OFF MORE THAN 6 PERCENT OF ITS PRODUCTION; MIXED FEELING AMONGST TRADERS - ALLIED
OPEC recent accord to shut off more than 6 percent of its production this past week has been met with mixed feeling amongst traders. As we mo ...
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- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- PTC India Limited - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
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