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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, 26 March 14
NEWBUILDING ORDERING ACTIVITY PICKS UP PACE ON IMPROVING DRY BULK MARKET CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The gradual improvement of the dry bulk market, as expected for some time now, is urging shipowners to increase their newbuilding ordering activ ...
Wednesday, 26 March 14
LARGE AMOUNT OF VESSELS CHARTERED TO HAUL IRON ORE CARGOES TO CHINESE BUYERS THIS WEEK - COMMODORE RESEARCH & CONSULTANCY
COALspot.com: Through the first three days of this week, 18 dry bulk vessels have been chartered to haul spot iron ore cargoes to Chinese buyers ...
Wednesday, 26 March 14
JOIN IN THE CLEAN COAL CASE STUDY WITH SINOPEC!
Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite Experts ...
Tuesday, 25 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR Q2 DELIVERY CLOSED $ 57.40 PMT W/E 21 MARCH 2014
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 25 March 14
NEWCASTLE COAL EXPORTS JUMP 29.16% TO 2.79 MMT WEEK ON WEEK
COALspot.com: In the week ended 24 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2.79 ...
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- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
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