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