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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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Monday, 23 March 15
CFR SOUTH CHINA COAL SWAP: Q3 DELIVERY HAS FALLEN 7.93% MONTH-ON-MONTH
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.09 (-7.06%) per MT month over month and US$ 2.00 (-3 ...
Monday, 23 March 15
SEABORNE WORLD COAL TRADE: GROWTH +5% - GERMAN COAL IMPORTER ASSOCIATION
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Sunday, 22 March 15
DRY BULK RATES CONTINUED TO RISE THIS WEEK
COALspot.com: The freight market was steady this week as all the segments increased after many weeks of weak trend.
The Baltic Dry Index (BDI) ...
Friday, 20 March 15
HARD COAL MARKET 2014: DESPITE THE ENERGY TURNAROUND, HARD COAL IMPORTS TO GERMANY RISE BY MORE THAN 6% (PART 1)
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Friday, 20 March 15
U.S. WEEKLY COAL PRODUCTION SHOWS 5.9% INCREASE WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.5 million short tons (mmst) of coal ...
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- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- The University of Queensland
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- VISA Power Limited - India
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