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