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