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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, 28 March 16
THE SUPRAMAX INDEX WAS UP TWENTY-FOUR POINTS TO 473 POINTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 25 March 16
DRY BULK SHIPPING FLEET WILL GROW BY 1.3% DURING 2016 - BIMCO | HELLENIC SHIPPING NEWS
The dry bulk market will keep on suffering, at least until the start of 2017 and possibly well after that, should the current balance of supply and ...
Friday, 25 March 16
U.S COAL PRODUCTION DECLINED 9.1% W/W - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million shor ...
Thursday, 24 March 16
PERSISTENT OVERCAPACITY TO PROLONG CHINA'S COAL SECTOR DOWNTURN - FITCH
China's coal sector is likely to remain under pressure in the short to medium term as structural weaknesses in demand and overcapacity persist, ...
Thursday, 24 March 16
SEABORNE TRADE: CHECKING UP ON THE TRENDS - CLARKSON RESEARCH
Following a decline in 2009, seaborne trade grew on average by 4.9% p.a. in 2010-13, reflecting booming import demand in a number of key importing ...
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- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- The University of Queensland
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Australian Coal Association
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
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