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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, 23 January 17
THE FREIGHT MARKET DID NOT CHANGE MUCH AND WAS ALMOST AT SAME LEVELS AS LAST WEEK
COALspot.com: The Freight market did not change much and was almost at same levels as last week.
The Baltic Exchange, tracking rates for ships ...
Friday, 20 January 17
U.S. WEEKLY COAL OUTPUT ESTIMATED 15.7 MMST; UP 14.1% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 19 January 17
KOREAN POWER UTILITY BORYEONG POWER TO IMPORT 660K TONS OF BITUMINOUS COAL FOR MARCH 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 590,000 Metric Tons of Bituminous coal and 7000 ...
Thursday, 19 January 17
PANAMAX RATES ARE UNDER PRESSURE IN BOTH HEMISPHERES - FEARNLEYS
Supramax
The market remained flat and the week continued at the same pace as last.
According to Fearnleys weekly dry bulk report, still more ...
Wednesday, 18 January 17
TANKER: THE CLEAN PRODUCT MARKET IS STILL NOT GIVING US ANY CLEAR SIGNS OF RECOVERY - GEORGE VASTARDIS
While we are approaching the Chinese New Year, the Clean Product market is still not giving us any clear signs of recovery, especially on The East ...
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- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Australian Coal Association
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
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