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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, 21 October 19
SHIPPERS CHANGE COURSE AS FUEL RULES TARGET SULPHUR EMISSIONS - WOOD MACKENZIE
The International Maritime Organization (IMO), the industry’s regulator, will require all ships to reduce the level of sulphur in their engin ...
Monday, 21 October 19
COAL TO PLAY SIGNIFICANT ROLE IN SOUTH AFRICA POWER MIX - MINISTER, REUTERS REPORTED
South Africa’s plans for additional power generation over the next decade will involve a variety of energy sources, with coal still playing a ...
Monday, 21 October 19
ULTRAMAX: IN ASIA, TRIPS FROM THE SINGAPORE AREA WERE PAYING BETWEEN $14,000 AND $16,000, DEPENDING ON THE VESSEL SIZE AND DURATION - BALTIC BRIEFING
Capesize
The market traded in a relatively stable supported manner in the Pacific this week while the Atlantic experienced weakening turbulence ...
Friday, 18 October 19
WHY CRUDE TANKER RATES JUST FELL (HALFWAY) BACK TO EARTH - FREIGHT WAVES
Panic drove crude-tanker rates up, very briefly, to mind-bogglingly high assessed levels of around $300,000 per day. Now, the fear factor has been ...
Friday, 18 October 19
SHORT TERM STRENGTH FOR OZ COMMODITIES - BALTIC BRIEFING
Volatility in the global commodity markets is not expected to unduly rattle Australia’s commodity outlook through 2020, but the 2021 picture ...
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- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
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