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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, 25 July 18
TANKER MARKET INSIGHT - DIMITRIS KOURTESIS
We are now into the second half of 2018, which so far has not been a fruitful year for tankers. With 2020 quickly approaching we need to consider t ...
Tuesday, 24 July 18
TANKER MARKET : IN TERMS OF TRADE, THE STEPS THAT WERE SLOWLY BEING TAKEN BY OPEC AND RUSSIA - GEORGE LAZARIDIS
Despite the fact that the tanker market still seems to be in the midst of a perfect storm, there are still strong indicators that better sailing da ...
Thursday, 19 July 18
VINACOMIN PRODUCES OVER 20 MLN TONNES OF RAW COAL FROM YEAR'S START - VNA
The Vietnam National Coal and Mineral Industries Group (Vinacomin) has produced over 20 million tonnes of raw coal and 19.3 million of clean coal f ...
Wednesday, 18 July 18
INDONESIA TO AUCTION 16 MINING SITES - JP
Indonesia will soon auction 16 mining sites as no proposal submissions have been submitted by state-owned enterprises (BUMN) and regional administr ...
Wednesday, 18 July 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
The new regulations for Chinese flag restricting import of Tier I ships have dominated market sentiment during the past days as buyers have been tr ...
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- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Australian Coal Association
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
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