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