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