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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, 18 October 13
WOOD MACKENZIE FORECASTS CHINA WILL OUTWEIGH THE REST OF THE WORLD FOR BASE METALS DEMAND BY 2017
China set to account for 52% of 117mt base metals market by 2017
China is on track to exceed rest of the World demand by 2017, becoming the singl ...
Friday, 18 October 13
DRY BULK MARKET ON "PAUSE" MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on "pause" mode over the past week, after China's return from the week long holidays. The industry's benchm ...
Friday, 18 October 13
US PRODUCED 6.7% MORE COAL W-W
COALspot.com – United States the world’s second largest coal producer produced approximately 18.9 million short tons (mmst) of coal in a ...
Thursday, 17 October 13
CAPESIZE: RATES ARE AGAIN MOVING UPWARDS - FEARNRESEARCH
Handy
Activities were obviously slowed down in the Pacific basin. There were only few coal movements which fixed around USD 15-16k for ships in Sin ...
Thursday, 17 October 13
SGX TO LAUNCH "SGX THERMAL COAL FUTURES" NEXT MONDAY
COALspot.com: SGX is to launch two thermal coal futures contracts, SGX API 8 CFR China Coal Index Futures and SGX IHS McCloskey Indonesian Sub-bit F ...
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- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Planning Commission, India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
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