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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, 22 November 18
SHUT OUT OF CHINA, U.S. COAL EXPORTERS FIND FAVOUR IN INDIA, FOR NOW - REUTERS
U.S. coal exporters have effectively lost a promising market in China since the imposition of tariffs as part of the ongoing trade dispute, but so ...
Wednesday, 21 November 18
SHIPPING MARKET INSIGHT - DIMITRIS KOURTESIS
Halfway through the fourth and last quarter of the year, we spot a significant change in freight rates for tankers trading dirty, as well as on the ...
Tuesday, 20 November 18
FREIGHT RATES IN THE CRUDE OIL MARKET HAVE ALREADY PICKED UP OVER THE PAST COUPLE OF WEEKS - YIANNIS VAMVAKAS
Current geopolitical developments between Iran and the US, which have led the latter to re-impose its sanctions, have significantly affected oil pr ...
Tuesday, 20 November 18
GOLDEN ENERGY AND RESOURCES LEADS A$249M BID FOR AUSTRALIA-LISTED STANMORE COAL - THE STRAITS TIMES
Singapore-listed Golden Energy and Resources (GEAR) is leading deals worth up to A$249 million (S$250 million) to acquire Australia-listed Stanmore ...
Monday, 19 November 18
INDONESIA'S LEADING EIGHT COAL MINER'S COAL MINING CONTRACTS ARE EXPECTED TO EXPIRE BETWEEN YEAR 2019 - 2025
The Ministry of Energy and Mineral Resources (ESDM) said, eight Coal Contract of Works (CCoW) will expected to expire between 2019 to 2026, Liputan ...
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- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
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