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