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