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