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