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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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Thursday, 20 February 14
LENGTHY DELAYS TO PANAMA CANAL EXPANSION POSE GLOBAL TRADE RISKS; US COAL PRODUCERS TO GREATLY BENEFIT ONCE COMPLETE, SAYS WOOD MACKENZIE
Wood Mackenzie expects the recent cost overrun disputes around the Panama Canal expansion to be resolved with limited disruption due to the signific ...
Thursday, 20 February 14
SUPRAMAX: IN ASIA IS IMPROVING SIGNIFICANTLY AND TURNED FROM APS TO DOP MARKET
Handy
The activity is back in the market after Chinese holidays. Supramax in Asia is improving significantly and turned from APS to DOP market. We ...
Wednesday, 19 February 14
NEWCASTLE PORT SHIPPED 30% MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 17 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 18 February 14
PERUVIAN HIGH COMMISSIONER FOR MINING AFFAIRS WILL BE KEY NOTE SPEAKER AT THE COLOMBIAN COAL CONFERENCE 2014
Press Release: The High Commissioner for Mining Affairs in the Presidency of the Peruvian Council of Ministers, General (R) Daniel Urresti Elera, ha ...
Monday, 17 February 14
US COAL PRODUCTION IN 2013 FELL TO ITS LOWEST LEVEL IN 20 YEARS
COALspot.com: U.S coal production for 2013 totaled an estimated 996 million short tons (MMst), 21 MMst (2%) lower than in 2012. It is the first time ...
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- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
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