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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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Friday, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
Thursday, 19 May 16
AUSTRALIAN IRON ORE CARGOES PUSHED UP THE FREIGHT RATES FOR CAPE THIS WEEK - FEARNLEYS
Cape
It has been a big jump in the freight rates for Cape size this week, says Fearnleys in its latest weekly report. All of the Australian iron ...
Thursday, 19 May 16
DISPUTE OVER VAT ON COAL DRAGS ON, CAUSING DOUBLE-BLOW TO MINERS - JP
The dispute over the value-added tax ( VAT ) mechanism between coal miners operating under third-generation contracts and the Finance Ministry&rsqu ...
Wednesday, 18 May 16
DRY BULK OUTLOOK REMAINS GLOOMY SAYS DANISH SHIP FINANCE, AS SHIPPING NEEDS TO RETHINK BUSINESS MODEL - HELLENIC SHIPPING
Our Shipping Market Review – May 2016 is devoted to the fourth industrial revolution. To understand the truly disruptive nature of the fourth ...
Wednesday, 18 May 16
LONG TERM FUNDAMENTALS ARE SLOWLY IMPROVING FOR THE DRY BULK MARKET - INTERMODAL
As we are approaching the end of the first half of the year, there is a number of market participants over at the dry bulk sector that have started ...
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Showing 2426 to 2430 news of total 6871 |
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- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
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