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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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Tuesday, 20 March 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
It has been a chilling start to the week for the global economy, with the vast majority of stock exchanges noting a fair drop, after a series of se ...
Tuesday, 20 March 18
TRAFIGURA GROUP PTE LTD SIGNS RECORD US$5.725 BILLION EUROPEAN MULTICURRENCY SYNDICATED REVOLVING CREDIT FACILITIES AND JPY72.64 BILLION DENOMINATED THREE YEAR TERM LOAN
Press Release: Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, ...
Monday, 19 March 18
PANAMAX: DESPITE FEWER REPORTED PERIOD TRADES THIS WEEK, RATE LEVELS HAVE REMAINED SOLID - BALTIC BRIEFING
Capesize
There were finally reports of increased Brazil activity, but still largely unconfirmed. Vale reportedly took six ships Thursday for 5 Ap ...
Friday, 16 March 18
WEEKLY US COAL PRODUCTION DROPS 1.9 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.8 million short tons ...
Friday, 16 March 18
INDONESIA COAL PRICE CAP POSES LIMITED RISKS TO PRODUCERS : FITCH
Indonesia’s cap on the benchmark price of coal sold to the domestic electricity sector is unlikely to have a significant impact on the credit ...
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- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- PTC India Limited - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
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