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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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Thursday, 04 October 12
CAPESIZE : IN SPITE OF THE HOLIDAYS IN CHINA, RATES ARE CLIMBING UP - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to east Med were around USD 13k and Black ...
Wednesday, 03 October 12
BARCLAYS'S PRICE FORECAST FOR NEWCASTLE COAL HAS BEEN WRITTEN DOWN
“ The main story in the global coal markets has been the growth in supply, with all of the major exporters adding volumes into a market which ...
Sunday, 30 September 12
SUB-BIT INDONESIA COAL SWAPS: MIXED TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 0.73 percent w-o-w but gained 0.41 percent d-o-d on Friday, 28 Se ...
Sunday, 30 September 12
INDONESIA HAS NO PLAN TO CAP COAL PRODUCTION
COALspot.com - “The current low coal prices were mainly due to a global oversupply condition, spurred by numerous mining exploitations in the ...
Sunday, 30 September 12
FREIGHT MARKET UNDER PRESSURE; OVERALL SENTIMENTS ARE STILL BEARISH
COALspot.com - The freight market seemed to have lost steam and all indices were down except for cape index.
The BDI was slightly down by 6 point ...
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- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
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