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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, 08 May 14
'TRIAL BY MEDIA, TRIAL BY LAW' - A REPORT FROM TRACK 1 OF BIMCO'S ANNUAL CONFERENCE DUBAI 2014
KNOWLEDGE TO ELEVATE
Aiming to bring a very different type of event into their annual conference, BIMCO presented ‘Double Jeopardy &n ...
Thursday, 08 May 14
INDONESIAN COAL PRICE REFERENCE IN MAY CRASHES THROUGH $74
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 1.21 / MT to ...
Wednesday, 07 May 14
THE DRY BULK MARKET HAS NOTED ANOTHER WEEKLY POSITIVE GAIN
Chartering (Wet: Softer- / Dry: Stable+)
The Dry Bulk market has noted another weekly positive gain, driven by the Capesize segment, but we ne ...
Wednesday, 07 May 14
SGX ENHANCES ITS COMMODITIES PRODUCT OFFERING
COALspot.com: SGX is building up its bulk commodity product offerings with 9 more derivative contracts over the next 2 months, subject to regula ...
Tuesday, 06 May 14
NEWCASTLE COAL EXPORT SLIPS 7.92% WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 5 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland ...
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- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- The University of Queensland
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- PTC India Limited - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
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