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