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