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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, 03 July 15
U.S DELIVERS WEAK FIRST HALF COAL PRODUCTION; 8.8% LOWER Y-O-Y
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.5 million short ...
Friday, 03 July 15
SHIPPING CONFIDENCE EQUALS SEVEN-YEAR LOW - MOORE STEPHENS
Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the p ...
Thursday, 02 July 15
TECHNOLOGY AND INNOVATION IN MINING 2015 - IXG
Information Exchange Group’s Technology and Innovation in Mining 2015- International Summit on Mining
Press Release: The inaugural editi ...
Thursday, 02 July 15
THE PERFORMANCE OF THE CAPESIZE SEGMENT PUSHED DRY BULK MARKET TO UPWARD LAST WEEK
COALspot.com: The Dry Bulk market continued its upward movement last week, with the BDI closing off on Friday (26 June) in excess of 800 points, wh ...
Wednesday, 01 July 15
Q4'15 AND Q1'16 FOB RICHARDS BAY COAL SWAPS ROSE W-O-W AND M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and down week over week.
The Q3 swap was up US$ ...
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- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- MS Steel International - UAE
- Planning Commission, India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
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