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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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Tuesday, 16 July 19
SUPRAMAX: THE ASIAN ARENA WAS SPLIT, WITH A BUILD-UP OF TONNAGE AND LACK OF ENQUIRY IN THE NORTH - BALTIC BRIEFING
Capesize
It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in Eur ...
Wednesday, 10 July 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR HCV AND LCV COAL FOR AUGUST 2019 LOADING
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for total 460,000 to 500,000 Metric To ...
Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning ...
Monday, 08 July 19
INDONESIAN COAL PRICE REFERENCE POSTS BIGGEST MONTHLY LOSS SINCE JANUARY 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw ...
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- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
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