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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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Saturday, 07 June 14
U.S. MONTHLY COAL PRODUCTION SLIGHTLY HIGHER IN MAY 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in a ...
Friday, 06 June 14
RICHARDS BAY COAL TERMINAL SHIPPED 4.221 MMT OF COAL TO SOUTHERN ASIAN COUNTRIES IN MAY
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.58 million tons ...
Thursday, 05 June 14
RBCT SOUTH AFRICA SHIPPED 21% LESS COAL IN APRIL COMPARED TO MARCH EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.45 million tons ...
Thursday, 05 June 14
PANAMAX : THIS WEEK STARTED IN A SLOW PACE - FEARNLEYS
Handy
After last week's silent and unexciting week we see some more activity this week, especially from the South American market. The rates ...
Thursday, 05 June 14
PORT OF NEWCASTLE SHIPPED 2.91 MMT OF COAL IN THIS PAST WEEK
COALspot.com: The figure constitutes a 4.30 percent higher compared to the previous week, following a week on week decreased of 19.13 percent recor ...
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- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- White Energy Company Limited
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
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