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