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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, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
Friday, 07 November 14
U.S. PRODUCED 85.60 MILLION SHORT TONS OF COAL IN OCTOBER, UP 2.88% M-O-M
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.0 million short tons (mmst) of coal ...
Thursday, 06 November 14
THE ATLANTIC HAS REMAINED STRONG WITH A HEALTHY SUPPLY OF NEW CARGOES
Handy
This week has continued its slow trend in both hemispheres and even though rates are a bit up w-o-w it is not a clear sign for any improvem ...
Wednesday, 05 November 14
CAPESIZE SEGMENT ENJOYED FIRMING RATES ACROSS BOTH BASINS
Following a fantastic week in terms of rate performance for Capes, the Dry Bulk market managed to note another positive weekly closing, which stron ...
Wednesday, 05 November 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
COALspot.com: The steep appreciation in dry bulker values between late 2012 and March 2014 resulted in unrealistically expensive ship values compar ...
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- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
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