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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, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
Sunday, 23 February 20
SHIPPING INDUSTRY FACES $370 MILLION HIT FROM NEW PANAMA CANAL CHARGE - REUTERS
A new “freshwater” charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up ...
Sunday, 23 February 20
A 57,000DWT SHIP FIXING DELIVERY SOUTH KALIMANTAN TRIP, REDELIVERY CJK, AT $7,600 - BALTIC BRIEFING
Capesize
The Capesize market found little to cheer about this week as it again endured remarkable lows. The Atlantic continued to improve, with ...
Saturday, 22 February 20
THE SURPRISING MOVE IN MARINE FUEL SPREADS - ING
Middle distillates tank
One of the biggest surprises since the implementation of new International Maritime Organization (IMO) sulphur regulati ...
Friday, 21 February 20
CAPE: AVERAGE NOMINAL DAILY EARNINGS STILL ADMITTEDLY UNCHANGED W-O-W AT BELOW US$3000 - FEARNLEYS
CAPE
The worst may just about be over for the big ships. Average nominal daily earnings still admittedly unchanged w-o-w at below US$3k, but sent ...
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- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
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