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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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Tuesday, 19 July 22
DRY BULK MARKET: CAPESIZE MARKET FIRMS THIS WEEK - BALTIC EXCHANGE
Capesize
Firmer sentiment across both basins pushed the Capesize 5TC route average above the $20,000 threshold this week, closing at $24,209. A ...
Tuesday, 19 July 22
WHY SHIPPING MIGHT BE ABOUT TO GET A LITTLE BIT SLOWER - WORLD ECONOMIC FORUM
If shipping is the beating heart of global trade, its pulse is about to get slower.
Faced with uncertainty about which fuels to use in the long ...
Tuesday, 19 July 22
GERMANY'S INCREASED COAL, OIL USE WILL BE TEMPORARY, SCHOLZ SAYS - CNBC
Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war i ...
Tuesday, 19 July 22
INDONESIA REMOVES PALM OIL EXPORT LEVY UNTIL AUG. 31 - REUTERS
Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finan ...
Tuesday, 19 July 22
CHINA'S JUNE DAILY COAL OUTPUT JUMPS ON PEAK SUMMER DEMAND - REUTERS
China’s daily coal output in June rose 6.6 per cent from a month earlier as miners cranked up output ahead of peak summer temperatures, when ...
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- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- PTC India Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
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