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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, 14 August 14
INDIA'S PLAN TO START AN INFRASTRUCTURE BOOM AND TO INVEST US$ 1 TRILLION BY 2017 WILL SURELY AFFECT THE DRY BULK TRADE - FEARNLEYS
Handy
The Atlantic Supra market has continued its improving sentiment with rates climbing and TA´s are now up about US$ 900 w-o-w, said Fea ...
Wednesday, 13 August 14
WEEKLY MARKET INSIGHT - KONSTANTINOS KONTOMICHIS SNP BROKER
Being at the peak of the holiday season, August is, as usual, the quietest month in terms of snp transactions, yet it is also a time very critical ...
Wednesday, 13 August 14
WHAT DOES PROJECT CARGO REALLY MEAN TO INSURERS?
KNOWLEDGE TO ELEVATE
Richard Kamppari-Baker, claims manager of FP Marine Risks, explains the challenges of project cargo risk assessment from ...
Wednesday, 13 August 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN CLOSE TO 57 MONTHS LOWS
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price in August. HBA for the month of A ...
Monday, 11 August 14
LARGEST CHINESE TRADE SURPLUS EVER RECORDED IN JULY - BIMCO
China recorded a trade surplus of USD 47.3 billion in July 2014. The record high surplus came on the back of very strong export growth while import ...
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- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
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