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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, 12 February 16
DRY BULK MARKET'S FORTUNES STILL TIED WITH CHINA'S ECONOMY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The inevitable slowdown of the Chinese economy was expected to hurt dry bulk shipping, but few expected the blow to be this hard, especially given ...
Friday, 12 February 16
COAL PRICES ARE EXPECTED TO DECLINE 13% IN 2016 TO $50 ATON, ON CONTINUED WEAK DEMAND AND OVERSUPPLY - WORLD BANK
COALspot.com: Thermal coal prices fell 9 percent in the fourth quarter on continued weak demand, high stocks, and surplus production, World Bank sa ...
Friday, 12 February 16
U.S. COAL PRODUCTION OFF 5.4% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.9 million shor ...
Thursday, 11 February 16
GLOBAL NEWBUILDING ORDERBOOK IS SHRINKING ON A DAILY BASIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2016 has started right where 2015 left off when it comes to newbuilding ordering activity, i.e. there are slim pickings to be had from shipyards ar ...
Wednesday, 10 February 16
SOUTH AFRICA IS HOPING TO SHIP MORE COAL TO INDIA IN 2016
COALspot.com: South Africa is hoping to boost coal exports to India after shipping a record 75.4 million tonnes of coal in 2015, industry officials ...
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- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- PTC India Limited - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- The University of Queensland
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
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