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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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Tuesday, 03 May 16
HOW TO AVOID THE LATEST CARGO FRAUDS - BIMCO
BIMCO receives regular reports from members around the world about cargo fraud. This week alone we have had two reports of cargoes being fixed (or ...
Monday, 02 May 16
INDIA'S GANGAVARAM PORT SETS ALL INDIA RECORD FOR NON-COKING COAL DISCHARGE
COALspot.com: Gangavaram Port, the deepest and the most modern port in India, has created yet another historical milestone record by discharging 15 ...
Monday, 02 May 16
CS (I) 5000 GAR COAL INDEX CLOSES 0.11% HIGHER, 5700 GAR COAL RISES 0.07% W/W
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.28 percent week over week to averaging $38.78 per ton on this past Friday, acco ...
Monday, 02 May 16
FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Saturday, 30 April 16
40 YEARS OF HANDLING COAL AT THE BTW IN WILHELMSHAVEN UNDER THE RHENUS FLAG
Press Release: The first bulk carrier with coal on board docked at the Bulk Terminal Wilhelmshaven (BTW), which is operated by Rhenus Midgar ...
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- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
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