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