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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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Saturday, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
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- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Petron Corporation, Philippines
- The University of Queensland
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Economic Council, Georgia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
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