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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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Monday, 12 May 14
TAIPOWER TO IMPORT AROUND 1 MMT OF SUB-BITUMINOUS COAL DURING AUGUST 2014 THROUGH NOVEMBER 2014
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open t ...
Monday, 12 May 14
DRY BULK MARKET IS STILL STRUGGLING TO FIND FIRM FOOTING
COALspot.com: The freight market continued to be weak and the BDI closed slightly lower at 997 points or fell 1.96 pct week on week. The cape in ...
Friday, 09 May 14
RBCT SHIPPED 5.4 MMT OF COAL IN APRIL
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest coal export terminal in the world, shipped 5.45 million to ...
Friday, 09 May 14
DRY BULK MARKET: BANKRUPTCY TONNAGE UNLEASHED
Drewry’s latest Dry Bulk Forecaster saw freight rates on most routes declined in 2014’s first quarter as the previous quarter’ ...
Friday, 09 May 14
UNITED STATES COAL PRODUCTION SLIGHTLY SLIDES TO 82.4 MMST IN APRIL
COALspot.com – United States the world's second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal i ...
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- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
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