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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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Monday, 09 March 15
CHINA'S IMPORTS - NEVER MORE IMPORTANT TO SHIPPING? - CLARKSONS
Over the last 15 years China has led maritime forecasters a right old dance. In 2002, rumours that Chinese iron ore imports were about to take off ...
Sunday, 08 March 15
FREIGHT RATES FROM INDONESIA TO INDIA IS TRENDING UP
COALspot.com: The freight market continued to see gains this week and all the indices were rose except for Cape index. The BDI was increased 4.62 p ...
Friday, 06 March 15
BALTIC DRY INDEX: IS THIS POWERFUL INDICATOR SIGNALING A GLOBAL RECESSION? - STREET AUTHORITY
Although memories of the Great Recession linger, a case can be made that better days lie ahead.
That’s because central banks around the ...
Friday, 06 March 15
U.S. WEEKLY COAL PRODUCTION ROSE 3.5% WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.1 million short tons (mmst) of coal ...
Thursday, 05 March 15
PANAMAX : THE ATLANTIC ROUND IS NOW PAYING AROUND US$ 5K PER DAY
COALspot.com: Handy - The activity in the handy/supra segment is back. “ We see more fresh cargo in the market for 2nd half March dates ...
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- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- The University of Queensland
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
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