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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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Friday, 28 August 15
DRY BULK SHIP OWNER OPTIMISTIC ABOUT FUTURE PROSPECTS OF THE MARKET: NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk ship owner Golden Ocean appeared optimistic on the long term prospects of the dry bulk market, mainly thanks to an expected resolution of ...
Friday, 28 August 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING AUGUST 22 ROSE FOR THE THIRD STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.5 million shor ...
Friday, 28 August 15
BANPU STRENGTHENS GROWTH PLAN
Coal Business: Asia-Pacific Synergies Increase Competitiveness for Premium Export Market.
Banpu Public Company Limited (BANPU) strengthens its ...
Thursday, 27 August 15
RATES FOR CAPES REMAINED ON A FREE FALL LAST WEEK - INTERMODAL
COALspot.com: Keeping everyone on their toes with the volatility seen in August, the Dry Bulk market undoubtedly remains a steady provider of chall ...
Wednesday, 26 August 15
MARKET INSIGHT - STRATOS TINIAKOS
It’s always interesting to comment on the market when big economies around the world are facing troubling times. Following the collapse of th ...
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- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- The University of Queensland
- MS Steel International - UAE
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
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