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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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Sunday, 22 December 19
NMDC DIVERSIFIES INTO COAL MINING - THE HINDU
Iron ore mining major NMDC has been allocated two coal blocks in Jharkhand for commercial mining by the Union Ministry of Coal.
Both ...
Sunday, 22 December 19
TRADING PLACES FOR 2020 - BALTIC EXCHANGE
In the sea of 2020 predictions, Saxo Bank’s Outrageous Predictions sail their own very unique course. For nearly 20 years the Danish investme ...
Saturday, 21 December 19
SUPRAMAX: A 63,000 DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasi ...
Saturday, 21 December 19
SHIPPING'S SUPPLY AND DEMAND TRENDING OFF BALANCE - BIMCO
One of the most worrying trends that has developed recently – which will affect shipping demand in the years to come – is the falling t ...
Friday, 20 December 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Wilmar Investment Holdings
- The University of Queensland
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- White Energy Company Limited
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Australian Coal Association
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
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