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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, 30 May 16
BCI ENDING AT 830 POINTS, DOWN 4.6 PER CENT W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week. The freight market was weak this past ...
Friday, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
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- Minerals Council of Australia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Planning Commission, India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
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