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