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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, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
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- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- White Energy Company Limited
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
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