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