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