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