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