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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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Wednesday, 03 October 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
The bunker fuel supply and availability landscape is close to its transformation with the enforcement of the IMO’s global 0.5% fuel Sulphur c ...
Tuesday, 02 October 18
PANAMAX: A FURTHER RISE ACROSS ALL MAIN ROUTES THIS WEEK - ALLIED
Capesize
Finally an upward recovery was in sight in the spot market the past few days, after the prolonged negative pressure noted the weeks pr ...
Tuesday, 02 October 18
THE PRICE OF OIL CONTINUES ITS CLIMB AMIDST A SERIES OF CONCERNS REGARDING SUPPLY CONSTRAINTS - GEORGE LAZARIDIS
It has been a busy week for oil traders as the price of oil continues its climb amidst a series of concerns regarding supply constraints.
...
Tuesday, 02 October 18
INDONESIA GETS READY TO MEET INCREASED COAL DEMAND FROM CHINA, FREIGHT TO RESPOND - MIKAL BOE
Indonesian coal suppliers have increased their domestic coal production target by 4.5 percent from a previous 485 million tonnes to a massive 507 m ...
Monday, 01 October 18
SUPRAMAX: A 56,000 DWT FIXED DELIVERY FOR A SURABAYA TRIP WITH REDELIVERY TO WEST COAST INDIA AT $13,500 - THE BALTIC BRIEFING
Capesize
A stop-start market for the big ships with many expectations and few fulfilled. Holidays curtailed trading early in the week, but the ...
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- White Energy Company Limited
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
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