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