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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, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
Tuesday, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
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- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- CNBM International Corporation - China
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
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