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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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Tuesday, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
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- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
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