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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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Monday, 02 July 18
THIESS SECURES NEW QCOAL NORTHERN HUB $480M CONTRACT
Thiess has been awarded a new A$480 million contract by QCoal to continue operations at the QCoal Northern Hub located in Queensland’s Bowen ...
Friday, 29 June 18
THE LBH GROUP AND RHENUS PLAN TO ESTABLISH A JOINT COMPANY
Press Release: The port services provider, the LBH Group, and the logistics specialist Rhenus, are planning to cooperate closely in the European in ...
Friday, 29 June 18
SUPRAMAX: INDO / CHINA COAL ROUNDS PAYING AROUND USD HIGH 11000 - FEARNLYS
Capesize
Its been an interesting week with a strong demand for ships out of Brazil, making C3 rates remain around USD 19 pmt said Fearnlys in i ...
Friday, 29 June 18
JAPAN'S TOHOKU ELEC, GLENCORE ABANDON APRIL-MARCH COAL CONTRACT TALKS - REUTERS
Japan’s Tohoku Electric Power Co Inc and Glencore Plc have abandoned talks on annual thermal coal supplies after failing to reach an agreemen ...
Wednesday, 27 June 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
After the abolishment of the trade embargo against Iran, there was a lot of optimism from the country’s side, as after quite some time a numb ...
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- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- PTC India Limited - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
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