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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, 21 October 15
RUSSIA'S CARBO ONE COAL SALES TO HIT 50 MLN T/YR - JACQUELINE HOLMES
COALspot.com: Russia's Carbo One has become one of the world's leading physical coal traders with an annual volume approaching 50 million t ...
Wednesday, 21 October 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In today’s dry bulk market, both freight rates and asset prices are creating mixed feelings to seasoned ship owners, who tend to instinctivel ...
Wednesday, 21 October 15
INDONESIAN COAL MINER BUKIT ASAM POSTS POSITIVE PERFORMANCE DURING FIRST THREE QUARTERS OF 2015
COALspot.com: Indonesian publicly listed and state controlled coal miner PT. Bukit Asam has announced that, the company’s coal sales up 8 per ...
Wednesday, 21 October 15
LOWER DEMAND HIT Q1' 16 INDONESIA COAL SWAPS
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 1.88 (-4.71%) per t ...
Tuesday, 20 October 15
SHIPBROKER SEES CAPESIZE RATES EASILY REACHING $25,000/DAY BY YEAR-END : NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future course of the dry bulk market has been troubling market participants for quite some time now, as the “elusive” freight rate ...
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- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
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