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