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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, 25 April 17
SHIPPING MARKET - ALLIED
Over the weekend we witnessed a second win over the rising populism that has become present in global politics since last summer, Allied shipping s ...
Monday, 24 April 17
THE FREIGHT MARKET WAS DOWN WEEK OVER WEEK EXCEPT FOR HANDYSIZE SEGMENT
COALspot.com: The Freight market was fell, week over a week as all segments show a negative downward trend except Handy Size segment this past week ...
Friday, 21 April 17
US WEEKLY COAL OUTPUT ON THE UP, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 20 April 17
SHIPPING POOLS: DON'T JUST DIVE IN - MOORE STEPHENS
Shipping pools can be an attractive option for ship owners and operators, particularly in difficult markets and during periods of economic uncertai ...
Thursday, 20 April 17
THE DRY BULK MARKET IS STILL ON ITS UPWARD MOMENTUM - ALLIED SHIPPING
Having gone through the first quarter of the year and with the Easter break having no come and gone, it seems as though the dry bulk market is stil ...
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- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
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