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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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Monday, 19 November 18
SUPRAMAX: THE BSI CONTINUED TO FALL LAST WEEK, ESPECIALLY THE ASIAN ROUTES - BALTIC BRIEFING
Capesize
After a cut throat couple of weeks, the market finally appeared to have found a floor and rates ticked up. Those analysts that predict ...
Sunday, 18 November 18
COAL STOCKS IN A THIRD OF NTPC PLANTS CLOSE TO NIL - FINANCIAL EXPRESS
Coal supply shortage continues to haunt NTPC, the country’s largest power generator, with latest government data showing 31% of the company&r ...
Thursday, 15 November 18
OIL MARKET REPORT: HEEDING THE WARNINGS - IEA
In last month’s Report, we noted that since the middle of the year oil supply had increased sharply, with gains in the Middle East, Russia an ...
Wednesday, 14 November 18
BIMCO ADOPTS 2020 BUNKER CLAUSES
BIMCO has developed two 2020 bunker clauses that deal with general compliance and the transitional period for an early December release.
...
Wednesday, 14 November 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The shipping industry is going through an interesting period across all markets. Since the end of last year, the Dry Baltic Index has been showing ...
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- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
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