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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, 12 April 17
SHIPPING MARKET INSIGHT - VASSILIS VASSILIOU
The first quarter of 2017 started relatively busy for the ship repair sector, with most of the repair facilities being nearly fully occupied till t ...
Monday, 10 April 17
THE CAPE INDEX WAS DOWN BY 16.32% WEEK OVER WEEK
COALspot.com: The Freight market was steady week over a week except for Cape. The cape index was down 16.32 percent week over week.
The Baltic ...
Friday, 07 April 17
INDONESIAN GOVERNMENT DECLARED SPOT COAL PRICES STAGE FIRST INCREASE OF THE YEAR
COALspot.com: Indonesian government declared coal benchmark price rose slightly in April, government data showed.
The benchmark price of Indon ...
Friday, 07 April 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
Thursday, 06 April 17
PANAMAX: THE MARKET HAS CONTINUED THE FIRM SENTIMENT FROM LAST WEEK IN BOTH HEMISPHERES - FEARNLEYS
Supramax
With holidays in Asia, the week has started very slow in Pacific. Some fixtures have still been done and levels have remained quite stab ...
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- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- The University of Queensland
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
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