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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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- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- The University of Queensland
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
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