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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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Wednesday, 12 October 16
MARKET INSIGHT - LINOS KOGEVINAS
Another Monday has gone by, bringing with it further turbulence for oil. A series of meetings between high-production nations Russia & Saudi Ar ...
Wednesday, 12 October 16
INDIAN STEELMAKERS' DELEVERAGING AT RISK ON COKING COAL PRICE JUMP - FITCH
The sharp increase in coking coal prices since August 2016 could squeeze Indian steelmakers' profitability and threaten their deleveraging, Fit ...
Wednesday, 12 October 16
UK SEABORNE COAL IMPORT PLUNGES 64% AS A WORRYING TREND LURKS - BIMCO
The main exporters of thermal coal for coal- fired power plants to the United Kingdom (UK) have experienced a heavy decline in seaborne cargo volum ...
Monday, 10 October 16
INDONESIAN COAL PRICE REFERENCE HITS HIGHEST LEVELS SINCE SEPTEMBER 2014
COALspot.com: The Indonesia coal benchmark price hits to its highest level since September 2014. The government declared benchmark prices for Indon ...
Monday, 10 October 16
THE FREIGHT MARKET FIRMS UP ON STRONG CAPE PERFORMANCE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose again and ending in a positive note this past week. ...
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- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
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