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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, 31 March 14
CFR SOUTH CHINA COAL SWAP FOR Q2 14 DELIVERY LOST 1.17% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.17 percent month on month and closed at US$ 75.38 per m ...
Sunday, 30 March 14
FREIGHTS FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK - REDDY
COALspot.com: The freight market dropped drastically and all sectors were affected severely.
The BDI was down by 14.13 pct and closed at 1, ...
Friday, 28 March 14
US PRODUCED APPROXIMATELY 18.9 MMST IN A WEEK - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Friday, 28 March 14
CHINA'S ENVIRONMENTAL MEASURES WILL NOT CURB GROWTH IN DOMESTIC STEEL PRODUCTION AND SEABORNE IRON ORE - WOOD MACKENZIE SAYS
Steel plants in China have been targeted as a major source of the toxic smog enveloping Beijing and Shanghai. Emergency measures have been impos ...
Thursday, 27 March 14
PANAMAX : SEEMS TO HEAD FURTHER DOWN; CAPESIZE : ANOTHER CHOPPY AND UNPREDICTABLE WEEK - FEARNLEYS AS
Handy
A weaker sentiment for the smaller size as well, with reduced activity in the Atlantic where Owners have to face significantly lower ret ...
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- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
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