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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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Thursday, 10 December 15
CANADIAN MINER TECK ANNOUNCES LNG HAUL TRUCK PILOT PROJECT
Teck Resources Limited is piloting the use of liquefied natural gas (LNG) as a fuel source in six haul trucks at its Fording River steelmakin ...
Thursday, 10 December 15
FOB RICHARDS BAY COAL Q3' 16 DELIVERY SWAP WAS CLOSED 7.27% PER TON LOWER COMPARED TO AVERAGE Q1' 16 DELIVERY PRICE
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
Wednesday, 09 December 15
U.S. COAL EXPORTS DECLINE IN 2015 DUE TO SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES - EIA
COALspot.com: The slower growth in world coal demand and lower international coal prices have contributed to a decline in U.S. coal exports in 2015 ...
Wednesday, 09 December 15
DRY BULK EXPERIENCES THE PERFECT STORM - PANOS TSILINGIRIS
Dry bulk experiences the perfect storm as the slowing of demand predominantly because of China sat atop the exaggerated oversupply. The BDI broke t ...
Tuesday, 08 December 15
OPEC'S DECISION BODES WELL FOR THE TANKER MARKET: STRONG MIDDLE EAST CRUDE EXPORTS WILL CONTINUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
OPEC’s latest decision to keep up oil production is seen by shipbrokers as a further boost for the tanker market. At the end of last year OPE ...
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- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
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