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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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Sunday, 01 September 13
INDONESIA TO INDIA SPOT FREIGHT STAYS FIRM THIS WEEK - VISTAAR
COALspot.com: The freight market continued to be firm with even though the BDI and Cape index dropped by about 3 pct week on week.
The BDI was do ...
Friday, 30 August 13
US COAL PRODUCTION FELL 0.48 PERCENT WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.70 million short tons (mmst) of ...
Thursday, 29 August 13
HANDY: THE PACIFIC MARKET STARTED HEALTHY THIS WEEK - FEARNRESEARCH
Handy
The Pacific market started healthy this week. We have seen many bauxite, iron ore and few coal fixtures. Ships passing Singapore were able to ...
Thursday, 29 August 13
NO RATING IMPACT ON INDONESIAN ENERGY COMPANIES FROM RUPIAH DEPRECIATION - FITCH RATINGS
Fitch Ratings says the credit profiles of rated Indonesian energy and utilities companies, including thermal coal producers, will largely remain una ...
Wednesday, 28 August 13
THE BDI HAS MOVED TO LEVELS CONSIDERABLY STRONGER THAN THE BEGINNING OF THE YEAR - INTERMODAL
By George Bassakos
SnP Broker - Intermodal
We have already reached the end of August and whilst students are preparing themselves for another sc ...
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- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
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