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