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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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Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
Sunday, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points.
The Cape Si ...
Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...
Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...
Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...
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- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
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