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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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Sunday, 09 June 13
IRON ORE DEMAND: WEAK; COAL MOVEMENT: STEADY TO INDIA AND CHINA - CAPT. REDDY
COALspot.com - The freight market was fairly steady with BDI up by 0.37 per cent closed at 812 points this week.
The Cape index was also ended in ...
Friday, 07 June 13
MEDITERRANEAN COAL MARKETS
Press Release: 3rd International Conference Mediterranean Coal Markets will be held on 16-17th of September 2013, Istanbul, Turkey, Ceylan Intercont ...
Friday, 07 June 13
US'S COAL PRODUCTION INCREASED BY 0.54 PER CENT THE WEEK ENDED JUNE 1
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.60 million short tons (mmst) of ...
Thursday, 06 June 13
WE ARE SEEING SOME FRESH INDO COAL TO CHINA AND INDIA - FEARNRESEARCH
Handy
In the Atlantic, the Gulf remains firm for the next week with a few orders in the market. The Supramaxes are seeing around low 20k for fronth ...
Wednesday, 05 June 13
DON'T AVOID PAYING COAL ROYALTY TO THE GOVERNMENT - INDONESIAN ENERGY MINISTER
COALspot.com – “Every country has the right to make policies to protect their national interests”, Energy and Mineral Resources Mi ...
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- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Planning Commission, India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- The University of Queensland
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
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