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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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Friday, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
Thursday, 19 May 16
AUSTRALIAN IRON ORE CARGOES PUSHED UP THE FREIGHT RATES FOR CAPE THIS WEEK - FEARNLEYS
Cape
It has been a big jump in the freight rates for Cape size this week, says Fearnleys in its latest weekly report. All of the Australian iron ...
Thursday, 19 May 16
DISPUTE OVER VAT ON COAL DRAGS ON, CAUSING DOUBLE-BLOW TO MINERS - JP
The dispute over the value-added tax ( VAT ) mechanism between coal miners operating under third-generation contracts and the Finance Ministry&rsqu ...
Wednesday, 18 May 16
DRY BULK OUTLOOK REMAINS GLOOMY SAYS DANISH SHIP FINANCE, AS SHIPPING NEEDS TO RETHINK BUSINESS MODEL - HELLENIC SHIPPING
Our Shipping Market Review – May 2016 is devoted to the fourth industrial revolution. To understand the truly disruptive nature of the fourth ...
Wednesday, 18 May 16
LONG TERM FUNDAMENTALS ARE SLOWLY IMPROVING FOR THE DRY BULK MARKET - INTERMODAL
As we are approaching the end of the first half of the year, there is a number of market participants over at the dry bulk sector that have started ...
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- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Australian Coal Association
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Parliament of New Zealand
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
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