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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, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
The Capesize market made some headway this past week despite being buffeted by the global pandemic storm. With the market in a constan ...
Friday, 20 March 20
VOLATILITY TO INCREASE IN TANKER MARKET FOLLOWING OIL PRICE WAR - DREWRY
Crude oil prices plunged by more than a third in the past week after OPEC+ failed to agree on production cut as demand softened in the aftermath of ...
Friday, 20 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
West Texas Interm ...
Friday, 20 March 20
84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
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- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
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