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