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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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Sunday, 19 October 14
LOW DEMAND PUSHES DOWN COAL FREIGHT RATES; VOLATILITY CONTINUES
COALspot.com: This week all the segments softened including BDI except for Panamax index.
The BDI was down by1.70 pct and clsoed at 944 points ...
Friday, 17 October 14
INTERNATIONAL COAL PRICES ARE AT LOWEST LEVEL; COAL STOCKS AT INDIAN POWER PLANTS ARE ALSO AT LOWEST LEVEL
International coal prices as well as coal freights are falling and reaching to its lowest levels. According to PTI, fuel stockpiles at the thermal ...
Friday, 17 October 14
U.S. COAL PRODUCTION UP BY 3.6% WEEK - ON - WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 17 October 14
DRY BULK SHIPPING'S OUTLOOK NOW SHIFTING TO A LESS PROMISING ONE, SHIP PRICES EXPECTED TO FOLLOW SOON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
China’s and other Asian countries’ return to the dry bulk market last week, didn’t trigger the hoped support towards the dry bulk ...
Thursday, 16 October 14
KOREA MIDLAND POWER TO BUY 490K MT OF LCV COAL FOR 1Q 2015
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 490,000 Metric Tons (MT) of LCV (Sub) Bitumino ...
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- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- PTC India Limited - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Xindia Steels Limited - India
- The University of Queensland
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
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