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