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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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Thursday, 18 July 13
DRY BULK MARKETS RETAINS RECENT GAINS, MOVES SIDEWAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on moving sideways this week, as evidenced by the latest trends of the industry's benchmark, the Baltic Dry Index (BDI ...
Wednesday, 17 July 13
NEWCASTLE COAL EXPORTS FELL 3.85% ON WEEK
COALspot.com: Newcastle port in Australia has loaded 2,860,149 tons of coal for the week ended 0700 hours 15 July 2013, Newcastle Port Corp. s ...
Wednesday, 17 July 13
TORN BETWEEN A CREDIT CRUNCH AND SUSTAINABLE GROWTH - GEORGE DERMATIS
COALspot.com: In 2012 China expanded at a rate of 7.8%, its worst annual performance in 13 years, raising criticism over the newly appointed governm ...
Tuesday, 16 July 13
TAKE - OR - PAY CONTRACTS CONTINUE TO INCENTIVISE AUSTRALIAN COAL PRODUCERS DESPITE POTENTIAL NEGATIVE CASH MARGINS - WOOD MACKENZIE
Australia's coal production has continued to grow, despite lower coal prices in 2013. Global investors and suppliers are therefore questioning whet ...
Monday, 15 July 13
INDONESIAN GOVERNMENT HAS REVISED DOWN ITS JULY BENCH-MARK COAL PRICE TO US$ 81.69 PER MT
COALspot. com - Indonesian Coal Price Reference dropped 3.75 % and hitting a 2013 low. The Indonesian government has revised down its owned coal ben ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- The University of Queensland
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Planning Commission, India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
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