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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, 18 March 16
OUTLOOK ON GLOBAL SHIPPING SECTOR TURNS NEGATIVE AS SUPPLY-DEMAND GAP WIDENS AND EBITDA DECLINES - MOODY'S
Moody’s Investors Service (Moody’s) has changed its outlook on the global shipping sector to negative as it expects supply growth to ou ...
Friday, 18 March 16
DRY BULK MARKET HAS LITTLE TO LOOK FORWARD TO FROM CHINA AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s rebound is long overdue, but when it comes, it won’t be because of China’s strong demand for commodities, o ...
Friday, 18 March 16
COAL PRODUCTION IN THE UNITED STATES SLIGHTLY DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.5 million shor ...
Thursday, 17 March 16
THE PANAMAX MARKET SEEMS TO BE A BIT TOPPISH THIS WEEK - FEARNLEYS
Cape
There are challenging days with rates or less unchanged from last week; West Australia to China still below US$ 3 pmt, and Tuarao to China i ...
Wednesday, 16 March 16
OIL SUPPLY OUTPACES DEMAND ON ANY GIVEN DAY, AND BILLIONS OF BARRELS OF OIL ARE BEING STORED RATHER THAN CONSUMED - CHRISTOPHER
Oil producers have turned to the concept of limiting their output to January levels as a certain form of action to boost prices that have fallen mo ...
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Showing 2516 to 2520 news of total 6871 |
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- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- The University of Queensland
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
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