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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, 21 September 16
SHIPPING MARKET INSIGHT - PANOS MAKRINOS
Amidst a challenging dry bulk and tanker market, very little time has been spent on the offshore industry developments during the past couple of ye ...
Monday, 19 September 16
AFTER YEARS OF COMA, COAL BECOMES THE MOST ATTRACTIVE COMMODITY RIGHT NOW
COALspot.com: China boosted coal imports in recent months. The Chinese government’s drive to cut over capacity pushed up the demand for therm ...
Monday, 19 September 16
THE CAPE INDEX WAS UP 7.28% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined and ending in a slightly negative note this past ...
Friday, 16 September 16
GLOBAL SHIPBUILDING: THE CHALLENGE TO REMAIN 'ACTIVE' - CHRISTOPHER PEARCE, CLARKSONS
The number of ‘active’ shipyards globally has more than halved since the start of 2009, falling to around 400 shipyards at the start of ...
Friday, 16 September 16
U.S. WEEKLY COAL OUTPUT DECLINED 6.2% TO 15.1 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.1 million short ton ...
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- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- VISA Power Limited - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
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