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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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Wednesday, 03 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
The global shipping industry is facing numerous challenges at a time when geopolitical turmoil has escalated in view of the recent tension in the M ...
Monday, 01 July 19
COAL DEMAND RISES, BUT REMAINS BELOW PEAK LEVELS - FORBES
This article is the third in a series on BP’s recently-released Statistical Review of World Energy 2019. The Review provides a comprehensive ...
Saturday, 29 June 19
ULTRAMAX: FROM SOUTHEAST ASIA MORE COAL WAS ENTERING THE MARKET - BALTIC BRIEFING
Capesize
The market showed variability over the past week, as most routes were active yet sentiment differed from region to region. The Pacific ...
Wednesday, 26 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the first half of the year is almost over, it is worth looking back at the sale and purchase activity during these months, focusing on the segme ...
Tuesday, 25 June 19
THERMAL COAL FUTURES ON THE ZHENGSHOU EXCHANGE ROSE - DANIEL HYNES
Coal markets were buoyed by ongoing supply side issues.
According to Daniel Hynes, Senior Commodity Strategist of ANZ, the the ...
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- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Minerals Council of Australia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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