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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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Friday, 06 July 18
COAL PRICES HAVE REMAINED STRONG BUT ARE SET TO DECLINE - NAB
Coal spot prices have been highly volatile in recent years, with an upward trend since recent lows in April 2018, National Australia Bank says in i ...
Friday, 06 July 18
HOW FLEET SIZE, CORPORATE PROFILE AND STRATEGY ARE DECIDING FACTORS IN SELECTING AN APPROPRIATE FINANCING STRATEGY - PWC
KNOWLEDGE TO ELEVATE
The challenges that shipping companies are facing when selecting an appropriate financing strategy during the current per ...
Friday, 06 July 18
INDIA: GOVT TO RELAX CURBS ON INDIAN FIRMS CHARTERING FOREIGN SHIPS - HINDU BUSINESS LINE
The Ministry of Shipping is clearly in reform mode. On the heels of the recent relaxation of the cabotage law, which allows foreign flag vessels to ...
Friday, 06 July 18
AUSTRALIAN NEWCASTLE SPOT COAL PRICES HIT $120 FOR 1ST TIME SINCE 2012 - REUTERS
Australian thermal coal prices have broken through $120 per tonne for the first time since 2012, driven up by strong consumption in Asia and spot m ...
Thursday, 05 July 18
WHAT THE FAILED GLENCORE-TOHOKU COAL TALKS MEAN FOR THE MARKET - REUTERS
Electric utilities in Japan and other Asian countries are driving blind when it comes to coal prices after the failure of Japan’s Tohoku Elec ...
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- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
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