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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, 13 January 13
THE FREIGHT MARKET: FAIRLY STEADY - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices up with maximum gain in the Panamax segment. The BDI was up by 7.65 pct clo ...
Saturday, 12 January 13
SUB-BIT FOB INDONESIA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has lost 0.32 percent WoW but CFR South China coal ship ...
Saturday, 12 January 13
HIGHER COAL PRICES: SEASONAL EFFECT
COALspot.com : Bahana Securities, one of the leading securities in Indonesia, said in its latest coal outlook that, on US and China&rsquo ...
Friday, 11 January 13
HBA HAS JUMPED BY US$ 5.80 PMT IN JANUARY 2013
COALspot.com - The Indonesian government has declared bench mark price for coal higher than December price. The monthly coal reference price f ...
Thursday, 10 January 13
PANAMAX : SOME GLIMMERS OF HOPE MID WEEK - FEARNLEYS
According to Fearnley’s weekly report, the Atlantic handy market is stable with rates around USD 11k for Cont-Feast and USD 17k bss USG/Feast. ...
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- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
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