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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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Friday, 10 July 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 10 July 20
GLOBAL SHIPPING EARNINGS FORECAST CUT AS SUPPLY SET TO OUTSTRIP DEMAND - MOODY'S
EBITDA forecast worsens, keeping outlook negative. We now expect the aggregate EBITDA of rated shipping companies to fall by around 16%-18% in 2020 ...
Friday, 10 July 20
SLOW RECOVERY IN TANKER RATES TO WEIGH ON BUANA LINTAS LAUTAN - FITCH RATINGS
Fitch Ratings believes that international tanker rates are likely improve after their sharp fall since May 2020, albeit at a slow pace. The weaknes ...
Wednesday, 08 July 20
MARKET INSIGHT - INTERMODAL
During the previous month, the dry bulk market witnessed an impressive increase in the BDI index that has reached 1800 points from 500 with a clear ...
Tuesday, 07 July 20
COAL INDIA WORKERS STRIKE CUTS OUTPUT BY 56%: OFFICIAL - REUTERS
A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
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- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
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