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