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