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