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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, 12 April 16
NO FURTHER SIGNIFICANT COAL PRICE DECLINES IN THE FUTURE - FITCH
COALspot.com: Fitch does not expect further significant coal price declines because producers sector-wide are suffering losses while China and Indo ...
Monday, 11 April 16
ON THE TIGHTROPE, IT CAN BE HARD TO KEEP YOUR BALANCE.... - CLARKSONS
Today’s headlines often point towards the impact of the demand side on the state of health of the shipping markets. But despite the fact that ...
Monday, 11 April 16
WEEKLY CS (I) COAL INDEX FOR 5700 GAR COAL UP 0.03 CENTS, OR ABOUT 0.06 PERCENT, TO $48.21 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.15 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 11 April 16
COAL IS NOT THE ENEMY TO FIGHT - ANDREA CLAVARINO, ASSOCARBONI
COALspot.com: “Coal is not the enemy to fight and electricity production from coal has an environmental impact in its lifecycle similar to na ...
Monday, 11 April 16
FORTY INDIAN COAL IMPORTERS UNDER THE DRI SCANNER FOR OVER-INVOICING : HINDU BUSINESS LINE
The Finance Ministry and the Directorate of Revenue Intelligence (DRI) of India are said to have stepped up investigations into the alleged over-in ...
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- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- CNBM International Corporation - China
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