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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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Friday, 18 March 16
OUTLOOK ON GLOBAL SHIPPING SECTOR TURNS NEGATIVE AS SUPPLY-DEMAND GAP WIDENS AND EBITDA DECLINES - MOODY'S
Moody’s Investors Service (Moody’s) has changed its outlook on the global shipping sector to negative as it expects supply growth to ou ...
Friday, 18 March 16
DRY BULK MARKET HAS LITTLE TO LOOK FORWARD TO FROM CHINA AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s rebound is long overdue, but when it comes, it won’t be because of China’s strong demand for commodities, o ...
Friday, 18 March 16
COAL PRODUCTION IN THE UNITED STATES SLIGHTLY DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.5 million shor ...
Thursday, 17 March 16
THE PANAMAX MARKET SEEMS TO BE A BIT TOPPISH THIS WEEK - FEARNLEYS
Cape
There are challenging days with rates or less unchanged from last week; West Australia to China still below US$ 3 pmt, and Tuarao to China i ...
Wednesday, 16 March 16
OIL SUPPLY OUTPACES DEMAND ON ANY GIVEN DAY, AND BILLIONS OF BARRELS OF OIL ARE BEING STORED RATHER THAN CONSUMED - CHRISTOPHER
Oil producers have turned to the concept of limiting their output to January levels as a certain form of action to boost prices that have fallen mo ...
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Showing 2516 to 2520 news of total 6871 |
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- Sojitz Corporation - Japan
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- PTC India Limited - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- VISA Power Limited - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Planning Commission, India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
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