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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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- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- PTC India Limited - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- White Energy Company Limited
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
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