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