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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, 13 November 18
INDIA: POWER DEMAND UP; COAL STOCKS AT MINES AT A 5-YEAR LOW - FINANCIAL EXPRESS
Stocks at Coal India mines plunged to a five-year low of 21 million tonne (mt) in October, as a sudden surge in demand for the fuel from the power ...
Monday, 12 November 18
COAL BUSINESS REMAINS PROSPECTIVE - ANTARA
Coal business happened to be sluggish in the 2012-2015 period because coal prices in the world market fell sharply, but it has begun to crawl up si ...
Monday, 12 November 18
INDONESIA'S HBA ENDS DECLINE IN NOVEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 07 November 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
This has been another active week in the second-hand market for both the dry bulk and tanker sectors. Buying interest has recently increased, which ...
Monday, 05 November 18
TIGHTER FUEL RULES COULD RAISE SHIPOWNERS' COSTS AND CAPEX - FITCH RATINGS
More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies’ operating costs and capex n ...
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- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Parliament of New Zealand
- VISA Power Limited - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- PTC India Limited - India
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