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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, 27 October 16
PANAMAX: FIRM ATLANTIC; TOPPISH PACIFIC - FEARNLEYS
Supramax
The trend from last week is passed on. ECSA still strong with Supras from N Brazil to Med fixed at $9,000 to $9,500 daily.
Accordin ...
Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this t ...
Tuesday, 25 October 16
INDONESIAN COAL PRICES MARCH HIGHER CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers ...
Monday, 24 October 16
KOMIPO INVITES BIDS FOR 0.78 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Australian Coal Association
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- The University of Queensland
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Sical Logistics Limited - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
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