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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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Sunday, 06 December 15
DRY BULK MARKET ON REVERSE MODE, SET TO BREAK NEW ALL-TIME LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been the negative “star” of the shipping industry for quite some time. In fact if it wasn’t for the boomi ...
Sunday, 06 December 15
DESPITE TEMPTING NEWBUILDING PRICES, CONTRACTING IN DRY BULK REMAINS LOW - BIMCO
The current newbuilding prices for dry bulk ships has dropped so much that they just passed the lows of 2012 heading downwards and are now at the l ...
Friday, 04 December 15
FOB INDONESIA COAL SWAPS ARE ALMOST FLAT OVER WEAK DEMAND
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and rose slightly week over week. Coal prices seen very margi ...
Friday, 04 December 15
COAL PRODUCTION IN THE U.S. FOR W/E NOVEMBER 28TH FELL SLIGHTLY FROM THE PREVIOUS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 15.0 million shor ...
Friday, 04 December 15
MINING OUTLOOK WEAKENS FURTHER ON FALLING CHINESE DEMAND - FITCH
COALspot.com: Fitch Ratings' outlook for the global mining sector in 2016 is firmly negative, reflecting our view that Chinese demand will cont ...
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- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Planning Commission, India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
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