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