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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, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
Monday, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
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- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Australian Coal Association
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
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