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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, 16 July 19
SUPRAMAX: THE ASIAN ARENA WAS SPLIT, WITH A BUILD-UP OF TONNAGE AND LACK OF ENQUIRY IN THE NORTH - BALTIC BRIEFING
Capesize
It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in Eur ...
Wednesday, 10 July 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR HCV AND LCV COAL FOR AUGUST 2019 LOADING
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for total 460,000 to 500,000 Metric To ...
Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning ...
Monday, 08 July 19
INDONESIAN COAL PRICE REFERENCE POSTS BIGGEST MONTHLY LOSS SINCE JANUARY 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw ...
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- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- The University of Queensland
- Indonesian Coal Mining Association
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
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