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