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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, 14 November 14
U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY WEEK ENDING NOVEMBER 08
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Friday, 14 November 14
MORE NATURAL GAS FROM RUSSIA TO HELP STABILISE CHINA PRICES - FITCH RATINGS
COALspot.com: Fitch Ratings has said possible additional natural gas supplies from Russia's OAO Gazprom to China via the Altai pipeline would h ...
Thursday, 13 November 14
SLOWER AND LOWER HAS BEEN THE TREND OF THE PANAMAX IN BOTH HEMISPHERES - FEARNLEYS
Handy
We are experiencing an oversupply of tonnage in the Atlantic which is out numbering the amount of cargoes, Fearnleys broker says in its lat ...
Thursday, 13 November 14
DRY BULK MARKET'S REBOUND HINGES ON IRON ORE OVERSUPPLY ISSUES MOVING FORWARD - HELLENIC SHIPPING NEWS
“One man’s benefit, is another man’s demise” is a phrase which can be used to describe today’s situation in the dry b ...
Thursday, 13 November 14
COAL MINISTER WANTS INDIA TO STOP COAL IMPORTS IN TWO OR THREE YEARS
COALspot.com: India to ramp up coal production to a billion tonnes by 2019 from its current level of 490 million tones. According to Power and Coal ...
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- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Planning Commission, India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
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