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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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Friday, 06 July 18
COAL PRICES HAVE REMAINED STRONG BUT ARE SET TO DECLINE - NAB
Coal spot prices have been highly volatile in recent years, with an upward trend since recent lows in April 2018, National Australia Bank says in i ...
Friday, 06 July 18
HOW FLEET SIZE, CORPORATE PROFILE AND STRATEGY ARE DECIDING FACTORS IN SELECTING AN APPROPRIATE FINANCING STRATEGY - PWC
KNOWLEDGE TO ELEVATE
The challenges that shipping companies are facing when selecting an appropriate financing strategy during the current per ...
Friday, 06 July 18
INDIA: GOVT TO RELAX CURBS ON INDIAN FIRMS CHARTERING FOREIGN SHIPS - HINDU BUSINESS LINE
The Ministry of Shipping is clearly in reform mode. On the heels of the recent relaxation of the cabotage law, which allows foreign flag vessels to ...
Friday, 06 July 18
AUSTRALIAN NEWCASTLE SPOT COAL PRICES HIT $120 FOR 1ST TIME SINCE 2012 - REUTERS
Australian thermal coal prices have broken through $120 per tonne for the first time since 2012, driven up by strong consumption in Asia and spot m ...
Thursday, 05 July 18
WHAT THE FAILED GLENCORE-TOHOKU COAL TALKS MEAN FOR THE MARKET - REUTERS
Electric utilities in Japan and other Asian countries are driving blind when it comes to coal prices after the failure of Japan’s Tohoku Elec ...
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- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Minerals Council of Australia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
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