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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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- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
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