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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, 12 January 15
SHIPPING - CHALLENGES AND RESOLUTIONS - EVA TZIMA
Last year has without a doubt been another challenging one both for both our industry and our country. As Greece is currently dominated by election ...
Sunday, 11 January 15
BDI DECLINED 8% ON WEEK; BCI LOST 31%
COALspot.com: The BDI continued its decline in the first week of this year or lost 8 pct week over week. The BDI was closed at 709 points whi ...
Friday, 09 January 15
U.S. EASTERN SPOT STEAM COAL PRICES FELL IN 2014; ROSE IN WEST - EIA
U.S. Eastern spot steam coal prices declined in 2014 compared to 2013 levels because of a decline in steam coal exports.
According to U.S. Ene ...
Friday, 09 January 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 2.2% Y-O-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 08 January 15
INDONESIA PRESSES ON WITH HIGHER COAL ROYALTY FEE TO BOOST STATE REVENUE - JG
The Indonesian government is pressing on with its plan to raise the royalty charged to coal miners in order to increase state revenue, but the move ...
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- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- White Energy Company Limited
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
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