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