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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, 04 July 16
BDI ROSE ON STRONGER DEMAND ACROSS ALL VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 11.16 percent from la ...
Friday, 01 July 16
BREXIT SET TO HURT SHIPPING IN THE LONG-TERM AS IT WILL TAKE ITS TOLL IN THE GLOBAL ECONOMY'S GROWTH - HELLENIC SHIPPING
Setting aside the short-term negative impact of the Brexit, in terms of stock market and currency volatility, it’s more than evident that the ...
Friday, 01 July 16
U.S'S COAL EXPORTS HAVE DECLINED FOR TWELVE QUARTERS IN A ROW - EIA
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.7 million short t ...
Thursday, 30 June 16
CAPE - THIS WEEK'S FREIGHT AND ACTIVITY LEVEL HAVE KEPT STABLE - FEARNLEYS
Cape
This week’s freight and activity level have kept stable. It is support at the present levels and despite a volatile market the freight ...
Thursday, 30 June 16
OIL PRODUCT TANKERS EARNINGS DECLINE AS STOCKBUILDING SLOWS DOWN - BIMCO
BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is stil ...
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- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- ICICI Bank Limited - India
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