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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, 23 May 14
U.S. WEEKLY COAL PRODUCTION SLIPS 1.8% WEEK ENDED MAY 17, 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 23 May 14
DRY BULK NEWBUILDING CANCELLATIONS COULD HELP SUPPORT MARKET IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's demise over the past few months maybe has come as a surprise to many, but analysts and shipbrokers are looking forward to ...
Thursday, 22 May 14
HEAR SUCCESSFUL CASE STUDIES FROM 10 INDEPENDENT UNCONVENTIONAL GAS OPERATORS
Unconventional Gas Asia 2014 will provide a unique opportunity for Asia’s unconventional gas leaders to share their experience and expertise ...
Thursday, 22 May 14
CNPC-GAZPROM DEAL A MEDIUM - TERM POSITIVE FOR CHINA'S GAS SECTOR
Fitch Ratings says a 30-year deal in which Russia's OAO Gazprom (BBB/Negative) will supply gas to China National Petroleum Corporation (CNPC; A ...
Thursday, 22 May 14
CAPESIZE : RATES ARE STILL UNDER PRESSURE
Handy
A quiet start into the week in Far East, some fresh Indonesian coal order in the market. For trips within S.E. Asia, Supras are trading aro ...
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- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- White Energy Company Limited
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
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