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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, 12 September 16
THE CAPE MARKET HAS GAINS ON WEEK; THE CAPE INDEX SETTLING AT 1566 POINTS ON FRIDAY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
Friday, 09 September 16
U.S. WEEKLY COAL OUTPUT DECLINED SLIGHTLY TO 16.1 MMST, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 09 September 16
CAPESIZE: THE SENTIMENT IS SOLID, SAYS FEARNLEYS
Supramax
A quiet start with Labour Day celebrations in the United States leading to very little being reported from the Atlantic basin. Supramaxe ...
Thursday, 08 September 16
U.S. COAL EXPORTS IN JUNE 2016 UP 29% COMPARED TO MAY 2016, SAYS EIA
U.S. coal production in August was 71 million short tons (MMst), which is 6 MMst (9%) higher than in the previous month and 12 MMst (14%) lower tha ...
Wednesday, 07 September 16
WEEKLY MARKET (TANKER) REPORT - INTERMODAL
What goes around comes around! The Shipping industry is infamous for its seasonality and cyclicality and the tanker sector is no exception to these ...
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- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
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