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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, 04 October 13
US COAL PRODUCTION UP 2.1% WEEK ON WEEK - EIA
COALspot.com – United States the world’s second largest coal producer produced approximately 19.70 million short tons (mmst) of coal in ...
Thursday, 03 October 13
INDONESIA AUGUST COAL EXPORTS FALL 12.90 % FROM JULY TO 30.71 MIL MT
COALspot.com: Indonesia, the 15th largest economy in world, 4th largest coal producer in world and world's largest multi grade coal exporter ...
Thursday, 03 October 13
TOP FOUR U.S. COAL COMPANIES SUPPLIED MORE THAN HALF OF U.S. COAL PRODUCTION IN 2011 - EIA
In the past two years, more than half of U.S. coal production was attributable to the top four coal producers, the result of changes in regional pro ...
Thursday, 03 October 13
HANDY: PERIOD MARKET STAND IN GOOD POSITION - FEARNRESEARCH
Handy
Nickel ore and Bauxite was active last week but slowed down now due to Chinese holidays. Ships opened in North China fixed at US$ 11-13k leve ...
Wednesday, 02 October 13
DRY BULK MARKET IS STILL MAINTAINING ITS UPWARD DIRECTION
Chartering (Wet: Stable- / Dry: Firm+)
Despite the fact that rates for Capes didn't continue their crazy ride this past week, the Dry Bulk market ...
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- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Australian Coal Association
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
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