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