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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, 30 January 15
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED 65.7 MMST
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.9 million short tons (mmst) of coal ...
Friday, 30 January 15
CAN BULKER CONVERSIONS SPOIL THE TANKER MARKET'S PARTY? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Oversupply of tonnage has always been in the back of the head of ship owners when it comes to taking advantage of favorable market conditions. As s ...
Thursday, 29 January 15
CHINA ENERGY DEMAND MUST BE REVIEWED DUE TO FUNDAMENTAL ECONOMIC CHANGES - WOOD MACKENZIE
New patterns emerging as energy demand growth decoupled significantly from GDP growth for the first time in 2014
Wood Mackenzie says 2014 was ...
Thursday, 29 January 15
CAPE MARKET IS STILL STRUGGLING WITH LOW DEMAND AND LOW COMMODITY PRICES
Handy
Supramax rates are heading south with slipping rates all across the block. USG activity is slow with mid-week levels in the mid 8.000s, Fea ...
Wednesday, 28 January 15
MARKET INSIGHT - STELIOS KOLLINTZAS
With most traders having returned to action from year end festivities, we have already seen signs of activity in the specialized product markets. L ...
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- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Planning Commission, India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
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