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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, 24 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record ...
Friday, 24 February 17
US WEEKLY COAL OUTPUT ESTIMATED AT 16.8 MMST - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 23 February 17
ULTRA SUPRAMAX: INDONESIA TO INDIA IS GETTING AROUND $10-11K BASIS SINGAPORE DELIVERY
Supramax
The week started off quietly in the Atlantic with more activity in the Pacific basin.
According to Fearnleys weekly report, frontha ...
Wednesday, 22 February 17
TANKER MARKET INSIGHT - KATERINA RESTIS
In 2016 a session of the IMO committee in London, set the new prerequisites effective from January 2020, which will necessitate global Sulphur cont ...
Tuesday, 21 February 17
INDIA'S JANUARY COAL IMPORTS DECLINE 21.7 PERCENT YEAR -ON-YEAR TO 14.31 MT - PTI
Coal imports declined by 21.7 per cent to 14.31 million tonnes in January as the power utilities did not lift much fuel due to abundant stock avail ...
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- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
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