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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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Saturday, 28 March 15
THE DRY BULK FLEET AT BREAKING POINT - CLARKSONS
The severe oversupply in the bulkcarrier fleet has contributed to the current trough in the dry bulk market, putting considerable financial pressur ...
Friday, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
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- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
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