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