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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, 27 October 16
PANAMAX: FIRM ATLANTIC; TOPPISH PACIFIC - FEARNLEYS
Supramax
The trend from last week is passed on. ECSA still strong with Supras from N Brazil to Med fixed at $9,000 to $9,500 daily.
Accordin ...
Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this t ...
Tuesday, 25 October 16
INDONESIAN COAL PRICES MARCH HIGHER CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers ...
Monday, 24 October 16
KOMIPO INVITES BIDS FOR 0.78 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- PTC India Limited - India
- Larsen & Toubro Limited - India
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