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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, 13 December 13
HARD COAL : VOLUMES POSSIBLY AT RECORD-BREAKING HIGH; PRICES POSSIBLY AT A RECORD-BREAKING LOW - VDKI
Press Release : World Hard Coal Market 2013: volumes possibly at record-breaking high, prices possibly at a record-breaking low. German and UK impor ...
Friday, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
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- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
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