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