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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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Friday, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.6 million short tons (mmst) of coal ...
Wednesday, 10 December 14
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS, INTERMODAL
COALspot.com: As 2014 is coming to an end, we look back to what has happened during the year and notice that SnP activity has been particularly sof ...
Wednesday, 10 December 14
WORLD HARD COAL MARKET 2014: PRODUCTION AND TRADE STAGNATING, IMPORTS TO GERMANY AND EUROPE ON THE DECLINE
Press Release: German Coal Importers Association (VDKi) criticizes regulations ordering reduction of CO2 emissions from coal-fired power plants as ...
Tuesday, 09 December 14
PRESSURE ON CHINA COAL MINERS TO CONTINUE DESPITE GOVERNMENT SUPPORT - FITCH
COALspot.com: Fitch Ratings says that Chinese coal mining companies will continue to be pressured by low prices, which will persist despite recent ...
Tuesday, 09 December 14
Q4' 2015, FOB INDONESIA COAL SWAP CLOSED AT $ 49.02 W/E 5 DEC
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 0.2 ...
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- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- PTC India Limited - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
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