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