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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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Monday, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
Sunday, 23 February 20
SHIPPING INDUSTRY FACES $370 MILLION HIT FROM NEW PANAMA CANAL CHARGE - REUTERS
A new “freshwater” charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up ...
Sunday, 23 February 20
A 57,000DWT SHIP FIXING DELIVERY SOUTH KALIMANTAN TRIP, REDELIVERY CJK, AT $7,600 - BALTIC BRIEFING
Capesize
The Capesize market found little to cheer about this week as it again endured remarkable lows. The Atlantic continued to improve, with ...
Saturday, 22 February 20
THE SURPRISING MOVE IN MARINE FUEL SPREADS - ING
Middle distillates tank
One of the biggest surprises since the implementation of new International Maritime Organization (IMO) sulphur regulati ...
Friday, 21 February 20
CAPE: AVERAGE NOMINAL DAILY EARNINGS STILL ADMITTEDLY UNCHANGED W-O-W AT BELOW US$3000 - FEARNLEYS
CAPE
The worst may just about be over for the big ships. Average nominal daily earnings still admittedly unchanged w-o-w at below US$3k, but sent ...
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- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
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