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