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