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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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Thursday, 02 October 14
CAPESIZE - DULL AND WITHOUT MUCH DIRECTION AS IRON ORE AND COAL VOLUMES FAIL TO LIVE UP EXPECTATIONS
Handy
After the recent weeks´ rate increase in the Atlantic we see Panamaxes snapping up handymax and Supra cargoes at much lower levels, p ...
Wednesday, 01 October 14
ASIAN THERMAL COAL PRICES TO REMAIN WEAK ON OVERSUPPLY - FITCH
COALspot.com: The thermal coal market in Asia will remain oversupplied in the next 12 months, in spite of on-going rationalisation of production, a ...
Wednesday, 01 October 14
PANAMAXES: DEFENSIVE, STRUGGLING TO KEEP ANY FURTHER DECREASES - INTERMODAL
COALspot.com: The Dry Bulk market seemed unable to shake off the trend of the week prior and the BDI remained on a downward slope for the bigger pa ...
Wednesday, 01 October 14
FITCH: GLOBAL ECONOMY FACES MULTI-SPEED RECOVERY, MULTIPLE RISKS
Fitch Ratings says in its latest Global Economic Outlook (GEO) that global growth will pick up in 2015 and 2016, but risks are weighted to the down ...
Tuesday, 30 September 14
COALVIEW TO PARTICIPATE AT MET COKE WORLD SUMMIT 2014 IN CHICAGO
COALspot.com: Coalview Ltd., LLC(“Coalview”) America's leading fully integrated coal technology and fine coal recovery company prov ...
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- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Australian Coal Association
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
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