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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, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling ...
Friday, 24 April 15
IS INDIA THE 'NEW CHINA' WHEN IT COMES TO THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been feeling the “heat” of China’s slowdown and together with the industry’s own failings, with ove ...
Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
COALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.
Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.0 million short ...
Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
COALspot.com: The Dry Bulk market managed to close off the week on a positive note last Friday, while as opposed to what we have been used to, it w ...
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- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Planning Commission, India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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