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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, 21 September 16
SHIPPING MARKET INSIGHT - PANOS MAKRINOS
Amidst a challenging dry bulk and tanker market, very little time has been spent on the offshore industry developments during the past couple of ye ...
Monday, 19 September 16
AFTER YEARS OF COMA, COAL BECOMES THE MOST ATTRACTIVE COMMODITY RIGHT NOW
COALspot.com: China boosted coal imports in recent months. The Chinese government’s drive to cut over capacity pushed up the demand for therm ...
Monday, 19 September 16
THE CAPE INDEX WAS UP 7.28% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined and ending in a slightly negative note this past ...
Friday, 16 September 16
GLOBAL SHIPBUILDING: THE CHALLENGE TO REMAIN 'ACTIVE' - CHRISTOPHER PEARCE, CLARKSONS
The number of ‘active’ shipyards globally has more than halved since the start of 2009, falling to around 400 shipyards at the start of ...
Friday, 16 September 16
U.S. WEEKLY COAL OUTPUT DECLINED 6.2% TO 15.1 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.1 million short ton ...
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- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
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