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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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- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Minerals Council of Australia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- The University of Queensland
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Australian Coal Association
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
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