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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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Tuesday, 14 January 20
MABUX: BUNKER MARKET THIS MORNING, JAN.14
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Tuesday, 14 January 20
SHIPPING MARKET ANALYSIS - ALLIED SHIPBROKING
Uncertainty in the global geopolitical sphere seems to have not come to an end along with 2019, as 2020 commenced with renewed tensions between the ...
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DRY BULK MARKET: "THIS IS NOT THE END OF COAL" SAYS IEA - BALTIC EXCHANGE
A historic drop in coal-fired electricity generation will not sway global coal demand from its upward trajectory through to 2024, though growth wil ...
Saturday, 11 January 20
ARE YOU 95% CONFIDENT THAT YOUR VERY LOW SULPHUR FUEL IS ON SPEC AND MARPOL COMPLIANT? - GARD
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Saturday, 11 January 20
NEW PRICING COULD SPELL TROUBLE FOR CHINA'S COAL SECTOR - CHINA DIALOGUE
Benchmark coal tariffs have been the foundation of China’s electricity pricing since 2004 but this mechanism was replaced on January 1 with a ...
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- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
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