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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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Thursday, 31 March 16
CAPE: ANOTHER UNEVENTFUL WEEK WITH FIXTURES CONCLUDED AT LAST DONE LEVELS - FEARNLEYS
Cape
Another uneventful week with fixtures concluded at last done levels, CS levels remain around the USD 3 mark, whilst C3 is still just short o ...
Wednesday, 30 March 16
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE METHODOLOGY TO DETERMINE THE SELLING PRICE OF COAL TO MINE-MOUTH POWER PLANTS
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) of Indonesia to review to revise methodology to determine the selling price of co ...
Wednesday, 30 March 16
VALEMAXES: THE BIGGEST NIGHTMARE OF TODAY'S DRY BULK MARKET - INTERMODAL
At a time that Europe is still dealing with the aftermath of the terrorist attacks in Brussels our society is daily bombarded with news of terroris ...
Tuesday, 29 March 16
BULK CARRIER VENTILATION - CAPTAIN PAUL R. WALTON
KNOWLEDGE TO ELEVATE
Moisture damage is a source of many cargo claims. Claimants allege that it is brought about by the ship’s failure t ...
Monday, 28 March 16
INDONESIAN WEEKLY CS50 COAL INDEX CLOSED SLIGHTLY FIRM; CS 57 INDEX CLOSED WEAK
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.03 percent week over week to averaging $38.91 per ton on this past Thursday, ...
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- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
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