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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, 09 January 19
SHIPPING MARKET INSIGHT - INERMODAL
Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resemble ...
Tuesday, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
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, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
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- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Parliament of New Zealand
- MS Steel International - UAE
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
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