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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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Saturday, 01 August 20
SHIP SHAPE - OUCH: FIS
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Saturday, 01 August 20
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Oil demand in Asia Pacific might be expected to plunge 1.8m barrels per day (bpd) this year, but there are still strong prospects for growth over t ...
Friday, 31 July 20
SHORT-TERM IMPACT ON THE CHEMICAL SHIPPING MARKET IF THE INDIA-CHINA DISPUTE ESCALATES - DREWRY
Due to the India-China dispute, the threat of deteriorating trade relations between the two countries has become real. Meanwhile, we expect freight ...
Friday, 31 July 20
PANAMAX: THE PERIOD MARKET REMAINS QUIET WITH FEW FIXTURES REPORTED - FEARNLEYS
Capesize
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Friday, 31 July 20
PANDEMIC SENDING SOUTH AFRICAN COAL INDUSTRY TO EARLIER GRAVE - IEEFA
Could South Africa’s coal export industry, one of the largest in the world, be about to take a severe hit from the coronavirus?
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- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
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