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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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Tuesday, 04 February 20
CAPE: THE AVERAGE EARNINGS PER DAY FELL BENEATH THE USD 4,000, A LEVEL CONSIDERABLY BELOW EVEN THE MOST CONSERVATIVE OPEX LEVELS - ALLIED
The recent slump in the dry bulk freight market may well have been expected to some degree, but despite this the shock was still overwhelming when ...
Monday, 03 February 20
KOWEPO INVITING BIDS FOR 2.46 MILLION TONS OF MIN.5700 AND MIN.5600 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,460,000 tons of (Sub) Bitum ...
Sunday, 02 February 20
NOVEL CORONAVIRUS OUTBREAK IN CHINA - STANDARD CLUB
Members will be aware of the recent novel coronavirus outbreak in China, which has now been declared a global emergency by the World Health Organis ...
Sunday, 02 February 20
SUPRAMAX: A 52,000DWT SHIP WAS FIXED BASIS DELIVERY SOUTH KALIMANTAN TRIP TO INDIA, AT $6,000 - BALTIC BRIEFING
Capesize
The week proved conspicuous for all the wrong reasons. This was the week when the Baltic Capesize Index (BCI) turned negative, closing ...
Saturday, 01 February 20
50 MILLION PEOPLE QUARANTINED IN CHINA TO CONTAIN SPREAD OF CORONAVIRUS - HOW DOES IT AFFECT SHIPPING? - BIMCO
The outbreak of the novel coronavirus, declared a global health emergency by the WHO, has caused massive uncertainty across the global markets with ...
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- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Australian Coal Association
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Planning Commission, India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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