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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, 15 September 16
INDONESIA MAY FACE A COAL CRISIS BY 2035!
COALspot.com: Indonesia is the world’s fourth-largest coal producer and the world’s largest thermal coal exporter may face a coal crisi ...
Thursday, 15 September 16
CAPESIZE: LAST WEEK ENDED ON A VERY STRONG NOTE MAINLY DRIVEN BY A ACTIVE BRAZIL MARKET - FEARNLYS
Supramax
With holidays in the eastern hemisphere beginning this week, the sentiment and activity level has been decreasing.
In the Pacific, ...
Wednesday, 14 September 16
THE DRY BULK MARKET REACHED LEVELS LAST SEEN BACK IN 2015 - INTERMODAL
In an earlier column we commented that we are undergoing “shipping’s new (ab)normal” with constrained financing, shift in demand ...
Wednesday, 14 September 16
THE PORT OF NEWCASTLE SHIPPED 12.48 MMT OF COAL IN AUGUST; AVERAGE SELLING PRICE WAS $AU 83.33
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU $1,040.4 ...
Tuesday, 13 September 16
CAPESIZE: BIG STRENGTH SEEN IN THE MARKET THIS WEEK - ALLIED
Capesize - Big strength seen in the market this week, with an upbeat in sentiment amongst owners helping pull up rates fairly quickly and many hold ...
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- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
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