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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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Monday, 12 September 16
THE CAPE MARKET HAS GAINS ON WEEK; THE CAPE INDEX SETTLING AT 1566 POINTS ON FRIDAY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
Friday, 09 September 16
U.S. WEEKLY COAL OUTPUT DECLINED SLIGHTLY TO 16.1 MMST, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 09 September 16
CAPESIZE: THE SENTIMENT IS SOLID, SAYS FEARNLEYS
Supramax
A quiet start with Labour Day celebrations in the United States leading to very little being reported from the Atlantic basin. Supramaxe ...
Thursday, 08 September 16
U.S. COAL EXPORTS IN JUNE 2016 UP 29% COMPARED TO MAY 2016, SAYS EIA
U.S. coal production in August was 71 million short tons (MMst), which is 6 MMst (9%) higher than in the previous month and 12 MMst (14%) lower tha ...
Wednesday, 07 September 16
WEEKLY MARKET (TANKER) REPORT - INTERMODAL
What goes around comes around! The Shipping industry is infamous for its seasonality and cyclicality and the tanker sector is no exception to these ...
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- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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