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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, 30 May 14
US COAL PRODUCTION RELATIVELY FLAT WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Thursday, 29 May 14
PEABODY ENERGY CHAIRMAN RECEIVES WCA AWARD
The World Coal Association has presented Gregory H. Boyce, Chairman and Chief Executive Officer of Peabody Energy (NYSE: BTU), with the 2014 Chairm ...
Thursday, 29 May 14
HANDY : THE SUPRAS ARE BEING TRADED AROUND 13K FOR SHORTER UPTO 1 YEAR PERIOD
Handy
The week started off with bank holidays in London and very little happening. This trend has continued and we believe it will continue into ...
Wednesday, 28 May 14
THE DRY BULK MARKET REMAINED UNDER PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market remained under pressure during this past week, with all indices pointing down compared to the previous Friday. Th ...
Tuesday, 27 May 14
PORT OF NEWCASTLE SHIPPED 19.13% LESS COAL THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 26 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
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- White Energy Company Limited
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Australian Coal Association
- Eastern Coal Council - USA
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
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