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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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Sunday, 15 February 15
BALTIC DRY INDEX CONTINUALLY DIPPED IN RED
COALspot.com: The Baltic Dry Index continues its decline and fell 5.18 pct to 530 points week on week due to falling commodity prices and declining ...
Saturday, 14 February 15
SHALE GAS AND TIGHT OIL ARE COMMERCIALLY PRODUCED IN JUST FOUR COUNTRIES - EIA
KNOWLEDGE TO ELEVATE
The United States, Canada, China, and Argentina are currently the only four countries in the world that are producing com ...
Friday, 13 February 15
U.S. WEEKLY COAL PRODUCTION SHOWS 10% DECLINE
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.1 million short tons (mmst) of coal ...
Friday, 13 February 15
SMALL AND MEDIUM-SIZED SHIP OWNERS SQUEEZED OUT OF THE MARKET ON CRASHING DRY BULK MARKET AND EUROZONE CRISIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Financing issues have started to tighten the noose in the throats of small and medium-size ship owners, who were already facing problems over the p ...
Thursday, 12 February 15
CAPESIZE: THE BEST DESCRIPTION FOR THE MARKET IS, FLAT - FEARNRESEARCH
Handy
The handy and supra market is also being affected by the marginal volume of activity in the commodity sales. We see a small upturn in the T ...
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- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Australian Coal Association
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
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