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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, 25 November 15
INDIA'S POWER GENERATORS FACE LOW, FALLING UTILISATION RATE - FITCH
COAlspot.com: Fitch Ratings says in a new report that the utilisation rate of India's thermal power generation capacity continued to decline in ...
Wednesday, 25 November 15
BIG CHINESE COPPER PROCESSORS DEFEND MARGINS THROUGH R&D, SAYS FITCH
Large Chinese copper processors are focusing on higher value-added products and investing in R&D to enhance their technical know-how to maintai ...
Wednesday, 25 November 15
BIMCO LAUNCHES ANTI-CORRUPTION CLAUSE FOR SHIPPING CONTRACTS WORLDWIDE
COALspot.com: BIMCO, is the world’s largest international shipping association, with 2,200 members in around 130 countries, has now launched ...
Wednesday, 25 November 15
TANKER MARKET INSIGHT - GEORGE VASTARDIS
We have already noticed obvious signs of activity mainly West of Suez, which are currently driving the clean MR market to higher levels. Over the p ...
Tuesday, 24 November 15
COAL SUPPLY PRESSURE PUTS INDONESIAN HBA IN FREE FALL
The coal industry is slowly recognizing that, the current coal price level is not a decrease in price, but a change in pricing to corresp ...
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- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- PTC India Limited - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
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