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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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Monday, 21 April 14
DRY BULK MARKET UPS AND - MOST RECENTLY - DOWNS OFFERS NO ROOM FOR RELAXING AMONG DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's latest demise, with the market retrating once again, since the end of March, has come at a time, when most ship owners ...
Sunday, 20 April 14
FREIGHT RATES END WEEK ON WEAK NOTE - VISTAAR
Wish you all Happy Easter.
The freight market continued to its downwards as BDI was fell 7.187 percent to 930 points week on week.
The ...
Friday, 18 April 14
US WEEKLY COAL PRODUCTION DECLINED BY 1% TO 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 17 April 14
DRY BULK MARKET ON RETREAT MODE, WHILE NEWBUILDING ORDERING ACTIVITY STALLS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating this week, a pattern which emerged since late March. Yesterday the BDI (Baltic Dry Index) ended yet a ...
Wednesday, 16 April 14
INDONESIA'S FEBRUARY 2014 COAL EXPORT VOLUME FELL 2.41%
COALspot.com: Indonesia, the world 4th largest coal producer and the global largest multi grade coal exporter shipped around $1.77* billio ...
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- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
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