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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, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
Monday, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
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- ASAPP Information Group - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
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