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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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Monday, 24 October 16
U.S WEEKLY COAL PRODUCTION DECLINED 3.2% TO 16 MMST WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Monday, 24 October 16
DRY BULK:MARKET ENDS WEEK WITH MIXED REACTIONS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ending with mixed direction as Cape and BDI was declined ...
Thursday, 20 October 16
THE PORT OF NEWCASTLE SHIPPED 16.97 PERCENT MORE COAL IN SEPTEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,216.7 m ...
Thursday, 20 October 16
A SUPRAMAX HAVE BEEN FIXED AT $12,500 FOR A INDIA TO BANGLADESH TRIP - FEARNLEYS
Supramax
A bit more activities with modest upturn in rates.
According to Fearnleys weekly report, US Gulf trip to Skaw-Passero has seen cons ...
Wednesday, 19 October 16
THE SHIPPING MARKET IS IN A WAIT AND SEE MODE - INTERMODAL
We are now heading towards the end of a rather volatile 2016 for the dry bulk segment. During the last 10 months there were never any clear indicat ...
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- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Australian Coal Association
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
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