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