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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, 28 March 16
THE SUPRAMAX INDEX WAS UP TWENTY-FOUR POINTS TO 473 POINTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 25 March 16
DRY BULK SHIPPING FLEET WILL GROW BY 1.3% DURING 2016 - BIMCO | HELLENIC SHIPPING NEWS
The dry bulk market will keep on suffering, at least until the start of 2017 and possibly well after that, should the current balance of supply and ...
Friday, 25 March 16
U.S COAL PRODUCTION DECLINED 9.1% W/W - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million shor ...
Thursday, 24 March 16
PERSISTENT OVERCAPACITY TO PROLONG CHINA'S COAL SECTOR DOWNTURN - FITCH
China's coal sector is likely to remain under pressure in the short to medium term as structural weaknesses in demand and overcapacity persist, ...
Thursday, 24 March 16
SEABORNE TRADE: CHECKING UP ON THE TRENDS - CLARKSON RESEARCH
Following a decline in 2009, seaborne trade grew on average by 4.9% p.a. in 2010-13, reflecting booming import demand in a number of key importing ...
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- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- CNBM International Corporation - China
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