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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, 04 July 16
BDI ROSE ON STRONGER DEMAND ACROSS ALL VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 11.16 percent from la ...
Friday, 01 July 16
BREXIT SET TO HURT SHIPPING IN THE LONG-TERM AS IT WILL TAKE ITS TOLL IN THE GLOBAL ECONOMY'S GROWTH - HELLENIC SHIPPING
Setting aside the short-term negative impact of the Brexit, in terms of stock market and currency volatility, it’s more than evident that the ...
Friday, 01 July 16
U.S'S COAL EXPORTS HAVE DECLINED FOR TWELVE QUARTERS IN A ROW - EIA
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.7 million short t ...
Thursday, 30 June 16
CAPE - THIS WEEK'S FREIGHT AND ACTIVITY LEVEL HAVE KEPT STABLE - FEARNLEYS
Cape
This week’s freight and activity level have kept stable. It is support at the present levels and despite a volatile market the freight ...
Thursday, 30 June 16
OIL PRODUCT TANKERS EARNINGS DECLINE AS STOCKBUILDING SLOWS DOWN - BIMCO
BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is stil ...
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- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- PTC India Limited - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- White Energy Company Limited
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
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