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