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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, 02 July 14
THE PANAMAX MARKET CONTINUED TO BLEED FOR ANOTHER WEEK - INTERMODAL
COALspot.com: The Dry Bulk market succumbed to mounting pressure this past week, while the Capesize market proved unable to “save the day&rdq ...
Wednesday, 02 July 14
HANDY BULKERS PROVE TO BE THE MOST SOUGHT AFTER VESSELS OVER THE PAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Handy dry bulker proved to be the most sought after ship by ship owners active in the second hand market, which saw a slight decline in terms o ...
Wednesday, 02 July 14
SHIPPING: MARKET INSIGHT - GEORGE DERMATIS
After 6 months, 57 ministerial meetings and 67 political agreements, the journey of the Greek Presidency in the EU reached its end yesterday; only ...
Tuesday, 01 July 14
INDIAN POWER PLANT COAL STOCKPILES VERY LOW
COALspot.com: According to today's Weekly Dry Bulk Report published by Commodore Research, Indian power plant coal stockpiles have now fallen t ...
Monday, 30 June 14
SUB-BIT FOB INDONESIA COAL PRICES ARE STILL STRUGGLING TO RECOVER
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
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- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
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