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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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Saturday, 20 October 18
PANAMAX: THE PACIFIC SAW A LARGE VOLUME OF FIXING, WITH INDONESIA AGAIN THE DRIVING FORCE - THE BALTIC BRIEFING
Capesize
A positive end to last week after a shaky start, with a Coaltrans taking participants out of the market early on and with rates slippi ...
Thursday, 18 October 18
SUPRAMAX: INDO/WC INDIA SUPRAS ARE FIXING AROUND MID $14000S P/D BASIS SPORE DELIVERY
Capesize
The volatile Cape market continues this week, especially in the Pacific says Fearnleys in its latest weekly report.
...
Thursday, 18 October 18
COAL SHORTAGE HITS POWER SECTOR AGAIN; HOW INDIA CAN GET ITS PRODUCTION RIGHT - ANIL SWARUP
By convincing states of the value proposition of increased production, the record production of Fy15 & Fy16 can be emulated.
The ...
Thursday, 18 October 18
CHINA POWER REFORM NEUTRAL ON GRIDS, PRESSURES IPP MARGINS - FITCH RATINGS
China's power sector reform has a broadly neutral impact on transmission grids although it will pressure the power producers' margins, says ...
Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
The Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is ...
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- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
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