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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, 08 January 16
DRY BULK MARKET'S CRISIS DEEPENS AS RATES ARE DROPPING TO NEW RECORD LOWS BY THE DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Just when you would think that the dry bulk market is reaching its bottom, even as it has long surpassed all-time lows, each day that passes by at ...
Thursday, 07 January 16
FOB NEWCASTLE COAL SWAPS DELIVERY Q1'16 REMAIN FLAT W-O-W; UP M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.23 per ton (3.35%) this past week compared to the sam ...
Thursday, 07 January 16
SHIPPING WILL REMAIN VOLATILE AND INDISPENSABLE IN 2016 - MOORE STEPHENS
The ultimate definition of an optimist has been characterised as an accordion player with an answerphone. Such extreme optimism might be difficult ...
Wednesday, 06 January 16
NEW COAL PRICE PASS-THROUGH REGULATION BENEFITS CHINA IPPS - FITCH RATINGS
Fitch Ratings says the new Coal Price Pass-through Mechanism announced by the National Development and Reform Commission (NDRC) on 31 December ...
Tuesday, 05 January 16
BIG COAL MINERS PLAN HIGHER PRODUCTION THIS YEAR - THE JAKARTA POST
The country’s major coal miners plan to further boost production in 2016 although analysts estimate that an oversupply in the world’s c ...
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- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
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