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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, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
Tuesday, 10 May 16
VOLATILITY? VARIATION NO ENIGMA TO SHIPPING..... - CLARKSONS
Along with cyclicality, the other characteristic of the shipping markets which receives frequent mention is volatility. This is so evident that the ...
Monday, 09 May 16
INDONESIAN CS COAL INDICES UP CONTINUES; POSITIVE DIRECTION
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.10 percent week over week to averaging $38.82 per ton on this past Wednesday, a ...
Monday, 09 May 16
DRY BULK SHIPPING TO WITNESS STEADY PROGRESS MOVING FORWARD ON THE BACK OF GROWING TRADE VOLUMES - BIMCO
In its latest short-term analysis of the shipping markets, BIMCO reiterated its optimism on the prospects of the dry bulk market moving forward. Ac ...
Monday, 09 May 16
BALTIC DRY INDEX ENDS WEEK ON A NEGATIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
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- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- White Energy Company Limited
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
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