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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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Wednesday, 20 January 16
SHIPPING MARKET INSIGHT - NASOS SOULAKIS
If you believe in the “January effect”, the theory according to which the beginning of a new year has a positive effect on financial in ...
Tuesday, 19 January 16
HAPPY NEW YEAR, COAL PRODUCERS! OR MAYBE NOT - ANDY ROBERTS
To coal producers, 2015 must have seemed far longer than 365 days. From their perspective, as bad as markets were at the beginning of the year, and ...
Tuesday, 19 January 16
COALTRANS ASIA IS RETURNING TO BALI
22nd Coaltrans Asia
Coaltrans Asia is returning to Bali to bring together over 1000 industry decision makers and thought leaders for three day ...
Monday, 18 January 16
INDONESIAN 5700 GAR COAL INDEX ROSE 0.60% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline slightly week over week to averaging $39.93 per ton on this past Friday, acc ...
Monday, 18 January 16
BALTIC DRY SHIPPING INDEX DROPS TO 373 POINTS; DECLINE 13% WEEK OVER WEEK
COALspot.com: The freight market dropped this week as the BDI declined further 13 percent to 373 points week over week. The Cape index ...
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- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
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