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