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