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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, 25 April 16
BALTIC DRY INDEX ENDS WEEK ON A POSITIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
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- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Planning Commission, India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- The University of Queensland
- PTC India Limited - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
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