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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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Saturday, 10 August 13
MOODY'S: OUTLOOK FOR US COAL INDUSTRY CHANGES TO STABLE FROM NEGATIVE
Moody's Investors Service has changed its outlook for the US coal industry to stable from negative, the rating agency says in a new report, "U ...
Saturday, 10 August 13
DEMOLITION ACTIVITY TO BE CRUCIAL AGAIN IN PROVIDING SUPPORT TO THE DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We appear to have forgotten demolition activity this year, with the Baltic Dry Index gaining traction in the latter part of the second half and emer ...
Friday, 09 August 13
US PRODUCED 4.00 PERCENT LESS COAL ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.00 million short tons (mmst) of ...
Thursday, 08 August 13
HANDY : NO POSITIVE SENTIMENT FOR THE FAR EAST MARKET - FEARNRESEARCH
Handy
No positive sentiment for the Far East market. There are a number of ships coming open in SE Asia this week and owners rating mid/high USD 8k ...
Thursday, 08 August 13
MALAYSIA HOSTS THIRD ANNUAL ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release : The third Annual Asian Sub-Bituminous Coal Users’ Group (ASBCUG) conference convenes Sept. 30-Oct. 3 at the Eastern & Orie ...
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- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
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