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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, 24 August 16
DRY BULK VESSELS FACE CONTINUED DISTRESS - CLEAR ASSET
Dry bulk vessels have faced extreme distress in recent years. With a combination of factors including newer vessels being ordered with up to 5-year ...
Tuesday, 23 August 16
4200 GAR COAL INDEX CLIMB 15.96% YEAR TO DATE - CS COAL INDEX
COALspot.com: Average 4200 GAR coal index of Indonesian origin rose 1.65 % week over week to averaging $31.46 per ton this past week, shows CS (i) ...
Tuesday, 23 August 16
KOMIPO TO IMPORT 250K OF 5,700 KCAL/KG NAR COAL FOR Q4' 16
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for total 250,000 Metric Tons of Bituminous Coal for ...
Monday, 22 August 16
INDONESIA'S CS 5000 GAR THERMAL COAL INDEX, ROSE TO A 57-WEEKS HIGH TO TOP $43.47 A TON
COALspot.com: Indonesia’s CS 5000 GAR thermal coal index, rose to a 57-weeks high to top $US43. 47 a ton in the latest week, extending a 18-w ...
Monday, 22 August 16
THE FREIGHT MARKET WAS STEADY THIS PAST WEEK; CAPE INDEX DECLINE 5.38%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
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- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Parliament of New Zealand
- The University of Queensland
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Australian Coal Association
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
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