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