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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, 11 September 15
SHIPPING MARKETS SHOW MIXED EMOTIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has managed to show marginal improvements over the past few days, with the Capesize segment faring better than smaller dry bulk ...
Friday, 11 September 15
U.S'S WEEKLY COAL PRODUCTION WAS ALMOST FLAT PAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.6 million shor ...
Thursday, 10 September 15
U.S. H1' 15 STEAM COAL EXPORTS FELL BY 21 PER CENT Y-Y: EIA
Coal Trade
Slower growth in world coal demand, lower international coal prices, and higher coal output in other coal-exporting countries have all ...
Thursday, 10 September 15
INDONESIAN COAL BENCHMARK PRICE HITS A NEW LOW OF $58.21 PER TON
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price to US$ 58.21 per MT ...
Thursday, 10 September 15
IF NOT NOW, WHEN? - GIANNIS ANDRITSOPOULOS
Our industry is well known to be cyclical with some cycles lasting longer than others. Despite the fact that these shifts in the behavior of the fr ...
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- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
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