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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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Thursday, 16 March 17
CAPESIZE: SHOWING STRENGTH; PANAMAX: VERY QUIET - FEARNLEYS
Supramax
The Atlantic market faced less activity from the USG whereas at the Cont tonnage seemed to tighten up with more cargoes emerging. Despit ...
Wednesday, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has be ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- White Energy Company Limited
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
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