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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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Thursday, 09 May 19
OFFSHORE CARIBBEAN CONGRESS 2019
Offshore Caribbean Congress 2019
Event Date: 4-5th July. 2019t
Location: Georgetown, Guyana
Hess announced a new d ...
Tuesday, 07 May 19
UNDOUBTEDLY A VERY TROUBLED YEAR FOR THE DRY BULK MARKET, SAYS ALLIED SHIPPING
Undoubtedly a very troubled year for the dry bulk market says Allied Shipping in its latest weekly report.
Thomas Chasapis, Re ...
Saturday, 04 May 19
HOW THE 'FAIR VALUE' OF COAL ASSETS IS AFFECTED BY COMMODITY CYCLES - CRU
As with any commodity, valuing coal assets can be tricky due to the cyclical nature of the market. In this insight, CRU discusses how commodity cyc ...
Friday, 03 May 19
SUPRAMAX: WITH WIDESPREAD HOLIDAYS DURING THE WEEK, THE MARKET LACKED IMPETUS - BALTIC BRIEFING
Capesize
The market last week was a tale of two halves, with substantial volatility. Beginning the week on a positive note the C5 West Australi ...
Friday, 03 May 19
COAL INDIA APRIL OUTPUT RISES 1% TO 45.29 MILLION TONNE - PTI
Coal India Ltd (CIL) Wednesday said its coal production in April 2019 rose by 1 per cent to 45.29 million tonne as compared with 44.86 million tonn ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- PTC India Limited - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
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