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