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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, 15 September 16
INDONESIA MAY FACE A COAL CRISIS BY 2035!
COALspot.com: Indonesia is the world’s fourth-largest coal producer and the world’s largest thermal coal exporter may face a coal crisi ...
Thursday, 15 September 16
CAPESIZE: LAST WEEK ENDED ON A VERY STRONG NOTE MAINLY DRIVEN BY A ACTIVE BRAZIL MARKET - FEARNLYS
Supramax
With holidays in the eastern hemisphere beginning this week, the sentiment and activity level has been decreasing.
In the Pacific, ...
Wednesday, 14 September 16
THE DRY BULK MARKET REACHED LEVELS LAST SEEN BACK IN 2015 - INTERMODAL
In an earlier column we commented that we are undergoing “shipping’s new (ab)normal” with constrained financing, shift in demand ...
Wednesday, 14 September 16
THE PORT OF NEWCASTLE SHIPPED 12.48 MMT OF COAL IN AUGUST; AVERAGE SELLING PRICE WAS $AU 83.33
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU $1,040.4 ...
Tuesday, 13 September 16
CAPESIZE: BIG STRENGTH SEEN IN THE MARKET THIS WEEK - ALLIED
Capesize - Big strength seen in the market this week, with an upbeat in sentiment amongst owners helping pull up rates fairly quickly and many hold ...
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- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- The University of Queensland
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
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