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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, 21 May 14
SHIPPING: MARKET INSIGHT - GEORGE LAZARIDIS
The recent revision by the OECD of its global growth forecast has sparked a debate as to the potential outcome these new figures will have on seabo ...
Tuesday, 20 May 14
NEWCASTLE'S COAL EXPORT VOLUME UP 39.11 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 19 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
Tuesday, 20 May 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with sl ...
Tuesday, 20 May 14
DRY BULK MARKET IS BOUND FOR A RECOVERY CLAIMS PARAGON SHIPPING'S HEAD MICHAEL BODOUROGLOU
The dry bulk market is bound for a recovery in the coming weeks, as the market will be better balanced, said Mr. Michael Bodouroglou, Chairman and ...
Monday, 19 May 14
INDO COAL SWAPS FOR AVERAGE Q3' 2014 DELIVERY LOST ON WEEK AND ON MONTH
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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- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- White Energy Company Limited
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
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