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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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Wednesday, 12 October 16
MARKET INSIGHT - LINOS KOGEVINAS
Another Monday has gone by, bringing with it further turbulence for oil. A series of meetings between high-production nations Russia & Saudi Ar ...
Wednesday, 12 October 16
INDIAN STEELMAKERS' DELEVERAGING AT RISK ON COKING COAL PRICE JUMP - FITCH
The sharp increase in coking coal prices since August 2016 could squeeze Indian steelmakers' profitability and threaten their deleveraging, Fit ...
Wednesday, 12 October 16
UK SEABORNE COAL IMPORT PLUNGES 64% AS A WORRYING TREND LURKS - BIMCO
The main exporters of thermal coal for coal- fired power plants to the United Kingdom (UK) have experienced a heavy decline in seaborne cargo volum ...
Monday, 10 October 16
INDONESIAN COAL PRICE REFERENCE HITS HIGHEST LEVELS SINCE SEPTEMBER 2014
COALspot.com: The Indonesia coal benchmark price hits to its highest level since September 2014. The government declared benchmark prices for Indon ...
Monday, 10 October 16
THE FREIGHT MARKET FIRMS UP ON STRONG CAPE PERFORMANCE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose again and ending in a positive note this past week. ...
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- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- The University of Queensland
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
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