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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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Monday, 02 July 18
THIESS SECURES NEW QCOAL NORTHERN HUB $480M CONTRACT
Thiess has been awarded a new A$480 million contract by QCoal to continue operations at the QCoal Northern Hub located in Queensland’s Bowen ...
Friday, 29 June 18
THE LBH GROUP AND RHENUS PLAN TO ESTABLISH A JOINT COMPANY
Press Release: The port services provider, the LBH Group, and the logistics specialist Rhenus, are planning to cooperate closely in the European in ...
Friday, 29 June 18
SUPRAMAX: INDO / CHINA COAL ROUNDS PAYING AROUND USD HIGH 11000 - FEARNLYS
Capesize
Its been an interesting week with a strong demand for ships out of Brazil, making C3 rates remain around USD 19 pmt said Fearnlys in i ...
Friday, 29 June 18
JAPAN'S TOHOKU ELEC, GLENCORE ABANDON APRIL-MARCH COAL CONTRACT TALKS - REUTERS
Japan’s Tohoku Electric Power Co Inc and Glencore Plc have abandoned talks on annual thermal coal supplies after failing to reach an agreemen ...
Wednesday, 27 June 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
After the abolishment of the trade embargo against Iran, there was a lot of optimism from the country’s side, as after quite some time a numb ...
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- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Planning Commission, India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
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