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