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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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Friday, 20 September 13
DRY BULK MARKET REACHES NEW HEIGHTS THIS WEEK STANDING AT THREE-YEAR HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The biggest rally of the dry bulk market in more than three years have brought back joy among ship owners, especially those active in the Capesize m ...
Friday, 20 September 13
US COAL PRODUCTION SLIGHTLY UP WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer produced totalled approximately 20.30 million short tons (mmst) of ...
Friday, 20 September 13
COLOMBIA SHIPPED 31.14 MILLION TONS OF THERMAL COAL IN H1
COALspot.com : Colombia’s coal exports fell by 20.59 percent in June 2013 compared to Colombia’s May's export of 7,633,579 MT.
Colom ...
Thursday, 19 September 13
CAPESIZE : AVERAGE DAILY EARNINGS HAVE GAINED ALMOST USD 6K WOW - FEARNLEYS
Handy
The rates in Feast are still firm this week even the activity calmed down a bit as chrtrs are not in a rush to cover even their end Sept carg ...
Wednesday, 18 September 13
IRON ORE AND ZINC ARE BEST PERFORMING MINING SECTORS IN CURRENT LOW PRICE, HIGH COST ENVIRONMENT - WOOD MACKENZIE
With the fall in commodity prices, cash margins in the mining industry have come under pressure. Accordingly, producers and investors are placing in ...
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- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Cement Manufacturers Association - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- White Energy Company Limited
- The University of Queensland
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
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