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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, 14 March 14
US, THE WORLD'S SECOND LARGEST COAL PRODUCER MINED 75.3 MMST OF COAL IN FEBRUARY; DOWN 10.88% M-M
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.7 million short tons (mmst) of coal ...
Thursday, 13 March 14
HANDY: THE FAR EAST MARKET IS IN AN UPWARD TREND - FEARNRESEARCH
Handy
Atlantic is a bit under pressure for spot tonnage, but the underlying sentiment is positive for the short medium future. 2-3 legs are do ...
Thursday, 13 March 14
MARKET INSIGHT - CHRISTOPHER T. WHITTY
By Christopher T. Whitty
Marketing Manager
Cotzias Intermodal Shipping Inc.
During the last year we have noticed that a fair number of ...
Wednesday, 12 March 14
ADARO ENERGY IMPROVES EFFICIENCY AND GENERATED STRONG EBITDA IN 2013
COALspot.com: PT Adaro Energy Tbk, Indonesia's single largest coal miner posted revenue of US$ 3.28 billion and cost of revenue of US$ 2.54 ...
Wednesday, 12 March 14
DGOMC OF INDONESIA REVISED DOWN THE BENCHMARK PRICES FOR COAL BY 4.26% IN MARCH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down the government's declared coal bench mark price ...
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- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
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