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