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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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Friday, 19 December 14
HOW WILL LOWER BUNKER PRICES AFFECT THE SUBSTANTIAL OVERCAPACITY IN DRY BULK MARKET? - BIMCO
As bunker fuel costs have come down from USD 600 per tonnes to USD 330 per tonnes in the past 6 months, much talk about increased ship speed have s ...
Friday, 19 December 14
U.S WEEKLY COAL PRODUCTION REACHED APPROXIMATELY 19.8 MMST; UP 1.0% WOW
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Friday, 19 December 14
HANDY: SOFTER TONE; PANAMAX: QUIET WEEK; CAPESIZE; PAINFUL WEEK
Handy
A softer tone for rates and volumes for the Supras, perhaps less apparent in the Pacific the last week before the season holidays and good ...
Thursday, 18 December 14
INDONESIA TO REVISE UP COAL OUTPUT TARGET TO 460 MILLION TONS IN 2015
COALspot.com: Indonesian government has revised up its next year coal output forecast to 460 million tons from its previous forecast of 421 million ...
Wednesday, 17 December 14
CAPES RATES SLIPPED BELOW $5,600/DAY, FELL 84% YOY
COALspot.com: In the very rare occurrence when the BCI stands below the BDI, words to describe market sentiment are probably poor, said Intermodal ...
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- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Planning Commission, India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
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