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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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Wednesday, 03 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
The global shipping industry is facing numerous challenges at a time when geopolitical turmoil has escalated in view of the recent tension in the M ...
Monday, 01 July 19
COAL DEMAND RISES, BUT REMAINS BELOW PEAK LEVELS - FORBES
This article is the third in a series on BP’s recently-released Statistical Review of World Energy 2019. The Review provides a comprehensive ...
Saturday, 29 June 19
ULTRAMAX: FROM SOUTHEAST ASIA MORE COAL WAS ENTERING THE MARKET - BALTIC BRIEFING
Capesize
The market showed variability over the past week, as most routes were active yet sentiment differed from region to region. The Pacific ...
Wednesday, 26 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the first half of the year is almost over, it is worth looking back at the sale and purchase activity during these months, focusing on the segme ...
Tuesday, 25 June 19
THERMAL COAL FUTURES ON THE ZHENGSHOU EXCHANGE ROSE - DANIEL HYNES
Coal markets were buoyed by ongoing supply side issues.
According to Daniel Hynes, Senior Commodity Strategist of ANZ, the the ...
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- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
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