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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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Thursday, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...
Thursday, 24 October 19
PANAMAX: NEGATIVE SENTIMENT IN THE MARKET AS IT CONTINUES TO WEAKEN - FEARNLEYS
Capesize
The market has continued to slide the last week, as lack of fresh requirements and a slight oversupply of tonnage heading towards Sout ...
Wednesday, 23 October 19
CHINA'S 2019 COAL IMPORTS SET TO RISE MORE THAN 10%: ANALYSTS - REUTERS
China, the world’s top coal buyer, is on track to boost imports of the fuel by more than 10% this year, traders and analysts said on Tuesday, ...
Wednesday, 23 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
Moving closer to the end of the year, we are facing what the market was expecting for quite a while, the ship repair sector booming with the shipya ...
Tuesday, 22 October 19
DRY BULK: DESPITE THE DOWNWARD CORRECTION NOTED OVER THE PAST MONTH, RATES ARE STILL HOLDING OFF AT FAVORABLE LEVELS - ALLIED SHIPPING
Despite the downward correction that has been noted in the dry bulk market over the past month, rates are still holding off at favorable levels. Ev ...
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- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Australian Coal Association
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
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