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