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