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