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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, 03 November 16
THE INDEX BASED COAL SALES & PURCHASE STRATEGY MAKES MORE EFFICIENT, SAYS 55.17% END-USERS
Considering the current coal market condition, the Index based coal sales & purchase strategy make more efficient was deemed the winner by 57.0 ...
Thursday, 03 November 16
CAPESIZE: BRAZIL/CHINA RATES MOVED TO THE $11 PMT LEVEL; WEST AUSTRALIA/CHINA ROUTE MOVED UP CLOSE TO MID $5 PMT LEVEL - FEARNLEYS
Supramax
In the Atlantic we see a bit more activity than in the eastern hemisphere, says Fearnleys in its latest weekly report. Fhauls via Black ...
Wednesday, 02 November 16
SHIPPING MARKET INSIGHT
A week before the U.S. presidential election, everyone is eager to see the socio-political effects that the result of these elections will have. As ...
Wednesday, 02 November 16
SHIP OPERATING COSTS ARE EXPECTED TO RISE IN BOTH 2016 AND 2017 - MOORE STEPHENS
Vessel operating costs are expected to rise in both 2016 and 2017. Repairs and maintenance and spares are the cost categories which are likely to i ...
Tuesday, 01 November 16
PANAMAX : A FAIR AMOUNT OF SIDEWAYS SHIPPING IN RATES - ALLIED SHIPPING
Capesize
A very sluggish start to the week, with rates dropping considerably as all optimism seems to have evaporated over the weekend. According ...
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- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Planning Commission, India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- CNBM International Corporation - China
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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