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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, 30 May 16
BCI ENDING AT 830 POINTS, DOWN 4.6 PER CENT W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week. The freight market was weak this past ...
Friday, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
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- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- White Energy Company Limited
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
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