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