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