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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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Wednesday, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand f ...
Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
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- Planning Commission, India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- The University of Queensland
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Australian Coal Association
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