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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, 26 June 15
INDONESIA COAL PRODUCTION FALLS BETWEEN JAN-MAY : JG
The Ministry of Energy and Mineral Resources announced that coal production declined to 166 million tons between January and May, a 19 percent drop ...
Friday, 26 June 15
COAL PRODUCTION IN THE U.S ROSE 6.0% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.3 million short ...
Thursday, 25 June 15
THE PORT OF NEWCASTLE SHIPPED 13.31% MORE COAL IN MAY 2015 COMPARED TO APRIL 2015
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.18 billio ...
Thursday, 25 June 15
CAPESIZE: PERIOD INTEREST REMAINED STRONG FOR A SECOND WEEK - INTERMODAL
COALspot.com: Following those depressive last six months, the BDI closed off on last Friday noting a substantial weekly increase, which pushed the ...
Wednesday, 24 June 15
PANAMAXES: THE OUTLOOK REMAINS NEGATIVE AS DEMAND FOR COAL IS DIMINISHING - YANNIS OLZIERSKY
As we get closer to the end of June, we can safely say that the 1st half of the year is leaving the dry bulk market with a bitter taste that we all ...
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- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
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