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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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Monday, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
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- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Central Electricity Authority - India
- VISA Power Limited - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
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