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