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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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Wednesday, 08 October 14
OIL COULD FALL TO USD80 BEFORE SHALE SUPPLY RESPONSE - FITCH
COALspot.com: Brent oil could fall as low as USD80 a barrel before triggering a self-correcting supply response with shale-oil drillers cutting inv ...
Wednesday, 08 October 14
IS THERE ANY BRIGHT SIDE ON THE DRY BULK SEGMENT? - YANNIS OLZIERSKY
In the movie “Life Of Brian”, a character on a nearby cross was singing the famous “Always look on the bright side of life” ...
Tuesday, 07 October 14
TAIPOWER TO IMPORT 525K MT OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com: Taiwan Power Company intends to procure 525,000 metric tons of low ash and extra low sulfur sub-bituminous coal for Taipower thermal ...
Tuesday, 07 October 14
SUB-BIT FOB INDONESIA COAL SWAP SHOWS A FLAT TO WEAK TREND THIS PAST WEEK
COALspot.com: Indonesian coal swaps November 2014 delivery flat week on week and gained US$ 0.10 (-0.20%) per mt day on day. The swap also lost US$ ...
Tuesday, 07 October 14
THE RIO TINTO CONFIRMS THAT NO DISCUSSIONS ARE TAKING PLACE WITH GLENCORE
COALspot.com: The board of Rio Tinto notes the recent press speculation regarding a possible combination of Rio Tinto and Glencore.The Rio Tinto bo ...
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- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- ASAPP Information Group - India
- Australian Coal Association
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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