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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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Wednesday, 12 April 17
SHIPPING MARKET INSIGHT - VASSILIS VASSILIOU
The first quarter of 2017 started relatively busy for the ship repair sector, with most of the repair facilities being nearly fully occupied till t ...
Monday, 10 April 17
THE CAPE INDEX WAS DOWN BY 16.32% WEEK OVER WEEK
COALspot.com: The Freight market was steady week over a week except for Cape. The cape index was down 16.32 percent week over week.
The Baltic ...
Friday, 07 April 17
INDONESIAN GOVERNMENT DECLARED SPOT COAL PRICES STAGE FIRST INCREASE OF THE YEAR
COALspot.com: Indonesian government declared coal benchmark price rose slightly in April, government data showed.
The benchmark price of Indon ...
Friday, 07 April 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
Thursday, 06 April 17
PANAMAX: THE MARKET HAS CONTINUED THE FIRM SENTIMENT FROM LAST WEEK IN BOTH HEMISPHERES - FEARNLEYS
Supramax
With holidays in Asia, the week has started very slow in Pacific. Some fixtures have still been done and levels have remained quite stab ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
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