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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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Monday, 25 April 16
BALTIC DRY INDEX ENDS WEEK ON A POSITIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
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- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
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