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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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Thursday, 03 November 16
THE INDEX BASED COAL SALES & PURCHASE STRATEGY MAKES MORE EFFICIENT, SAYS 55.17% END-USERS
Considering the current coal market condition, the Index based coal sales & purchase strategy make more efficient was deemed the winner by 57.0 ...
Thursday, 03 November 16
CAPESIZE: BRAZIL/CHINA RATES MOVED TO THE $11 PMT LEVEL; WEST AUSTRALIA/CHINA ROUTE MOVED UP CLOSE TO MID $5 PMT LEVEL - FEARNLEYS
Supramax
In the Atlantic we see a bit more activity than in the eastern hemisphere, says Fearnleys in its latest weekly report. Fhauls via Black ...
Wednesday, 02 November 16
SHIPPING MARKET INSIGHT
A week before the U.S. presidential election, everyone is eager to see the socio-political effects that the result of these elections will have. As ...
Wednesday, 02 November 16
SHIP OPERATING COSTS ARE EXPECTED TO RISE IN BOTH 2016 AND 2017 - MOORE STEPHENS
Vessel operating costs are expected to rise in both 2016 and 2017. Repairs and maintenance and spares are the cost categories which are likely to i ...
Tuesday, 01 November 16
PANAMAX : A FAIR AMOUNT OF SIDEWAYS SHIPPING IN RATES - ALLIED SHIPPING
Capesize
A very sluggish start to the week, with rates dropping considerably as all optimism seems to have evaporated over the weekend. According ...
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- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
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