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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, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarte ...
Sunday, 26 May 19
SUPRAMAX: A LIMITED ACTIVITY WAS REPORTED, WITH THE UPCOMING INDONESIAN HOLIDAYS SLOWING COAL MOVEMENTS - BALTIC BRIEFING
Capesize
The past week marked one of the busier periods for Capesizes this year. With a subdued start due to a public holiday in Singapore on M ...
Wednesday, 22 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
The ship repair sector is showing a constant and gradual increase on the workload throughout the past months, with almost all the shipyards worldwi ...
Saturday, 18 May 19
SUPRAMAX: 56,000DWT OPEN PANJANG FIXING AT $10,500 FOR A TRIP VIA INDONESIA, AND REDELIVERY CHINA - BALTIC EXCHANGE
Capesize
The market continues to ebb and flow with a generally positive up trend. The Capesize 5TC opened with upward momentum from last week&r ...
Friday, 17 May 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
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