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