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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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Sunday, 10 November 13
PANAMAX COAL FREIGHT RATES REMAIN UNDER PRESSURE; SUPRAMAX BIGGEST GAINER - REDDY
COALspot.com: The freight market was up this week with all indices increased except for Panamax index.
The BDI was up by 56 points closing at 158 ...
Friday, 08 November 13
DRY BULK MARKET BOUNCES BACK ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market staged a mild comeback this week, as the industry's benchmark, the Baltic Dry Index (BDI) inched forward step by step and bit b ...
Friday, 08 November 13
US'S OCTOBER COAL PRODUCTION INCREASED BY 1.78% M-M - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 07 November 13
FORMOSA PLASTICS SEEKS 80K MT OF 5850 GAR COAL
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for 80,000 mt of bituminous coal for delivery in Nov - Dec'13 for its Chi ...
Thursday, 07 November 13
INDONESIAN COAL EXPORT VOLUME INCREASED; REVENUE DECREASED
COALspot.com: Indonesia, the 15th largest economy, 4th largest coal producer in the world and world's largest multi grade coal exporter shipp ...
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- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- CNBM International Corporation - China
- VISA Power Limited - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
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