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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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Wednesday, 16 July 14
INDIA BUDGET HAS LIMITED SHORT TERM IMPACT ON POWER SECTOR - FITCH RATINGS
Fitch Ratings says that the measures announced relating to India's electricity sector in the budget for FY2015 are directionally correct but in ...
Wednesday, 16 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
Wake me up when September ends - Theodore Ntalakos
Since last September most thought that the worst was behind us. It looks like the market de ...
Tuesday, 15 July 14
INDONESIA'S TOTAL COAL PRODUCTION REACHED ANOTHER HIGH DURING THE FIRST SIX MONTHS; GOVERNMENT EXPECTED TO RAISE ROYALTIES
COALspot.com: Indonesia's total coal production reached 213 million tons during January through June, up by 7.6 percent y-o-y. Coal output in I ...
Monday, 14 July 14
THE END OF THE ERA OF HEAVY FUEL OIL IN MARITIME SHIPPING - ICCT
KNOWLEDGE TO ELEVATE
Since the 1960s, heavy fuel oil (HFO) has been the king of marine fuels. Viscous, dirty, yet inexpensive and widely avail ...
Monday, 14 July 14
SGX SUB-BIT FOB INDONESIA COAL SWAP FOR Q4' 14 DELIVERY CLOSED AT $ 54.80
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
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- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
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