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