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