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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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Thursday, 09 May 19
OFFSHORE CARIBBEAN CONGRESS 2019
Offshore Caribbean Congress 2019
Event Date: 4-5th July. 2019t
Location: Georgetown, Guyana
Hess announced a new d ...
Tuesday, 07 May 19
UNDOUBTEDLY A VERY TROUBLED YEAR FOR THE DRY BULK MARKET, SAYS ALLIED SHIPPING
Undoubtedly a very troubled year for the dry bulk market says Allied Shipping in its latest weekly report.
Thomas Chasapis, Re ...
Saturday, 04 May 19
HOW THE 'FAIR VALUE' OF COAL ASSETS IS AFFECTED BY COMMODITY CYCLES - CRU
As with any commodity, valuing coal assets can be tricky due to the cyclical nature of the market. In this insight, CRU discusses how commodity cyc ...
Friday, 03 May 19
SUPRAMAX: WITH WIDESPREAD HOLIDAYS DURING THE WEEK, THE MARKET LACKED IMPETUS - BALTIC BRIEFING
Capesize
The market last week was a tale of two halves, with substantial volatility. Beginning the week on a positive note the C5 West Australi ...
Friday, 03 May 19
COAL INDIA APRIL OUTPUT RISES 1% TO 45.29 MILLION TONNE - PTI
Coal India Ltd (CIL) Wednesday said its coal production in April 2019 rose by 1 per cent to 45.29 million tonne as compared with 44.86 million tonn ...
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- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
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