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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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Wednesday, 21 January 15
PANAMAX MARKET MOVED SIDEWAYS OVERALL LAST WEEK - INTERMODAL
COALspot.com: The positive sentiment in which the week prior ended carried on through-out last week as well, the end of which marked the first posi ...
Wednesday, 21 January 15
SHIFT IN INTERNATIONAL COAL TRADE TO THE PACIFIC BASIN WILL CONTINUE - IMF
COALspot.com: The shift in international coal trade to the Pacific Basin will continue, IMF said in its latest Medium-Term Coal Market Report.
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Wednesday, 21 January 15
MARKET INSIGHT - VASSILIS LOGOTHETIS, INTERMODAL
The World Bank has lowered its forecast for global growth in 2015 to 3% down from its previous level of 3.4% amid rising concerns over the economic ...
Wednesday, 21 January 15
THERMAL COAL PRICE OUTLOOK DEPENDENT ON INDIAN IMPORT DEMAND - MATTHEW BOYLE, CRU
COALspot.com: Supply and demand side developments in India will be an important determinant of future market dynamics and prices for thermal coal a ...
Wednesday, 21 January 15
PORT OF NEWCASTLE COAL EXPORTS JUMP 16.19% ON MONTH TO 15.80 MIL MT IN DECEMBER' 14
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.136 billi ...
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- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
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