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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, 12 December 16
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this past week and ending on a negative note week ...
Thursday, 08 December 16
STABLE OUTLOOK FOR GLOBAL MINING IN 2017 : FITCH
Fitch Ratings' sector and rating outlooks for the global mining industry in 2017 are both stable, reflecting Fitch's view that prices have ...
Thursday, 08 December 16
CHINESE COAL DEMAND WOULD BE THE KEY FACTOR THAT INFLUENCE WORLD COAL PRICES IN 2017, POLL
“WHAT ARE THE KEY FACTORS THAT MAY INFLUENCE WORLD'S COAL PRICES IN 2017?”
The on-line opinion poll conducted by COALspot.com ...
Thursday, 08 December 16
PANAMAX: THE FIRM TENDENCY CONTINUES IN BOTH HEMISPHERES - FEARNLEY
Supramax
Market remained firm - true mostly within Atlantic.
Star performer USG remained its title, where Supras reached around USD 21k ...
Wednesday, 07 December 16
SHIPPING MARKET INSIGHT - THEODOROS NTALAKOS
Looking back at my previous end-of-year insights, for the last seven years, in each and every one of them, I begin with something like “there ...
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- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- The University of Queensland
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
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