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