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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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Wednesday, 20 January 16
SHIPPING MARKET INSIGHT - NASOS SOULAKIS
If you believe in the “January effect”, the theory according to which the beginning of a new year has a positive effect on financial in ...
Tuesday, 19 January 16
HAPPY NEW YEAR, COAL PRODUCERS! OR MAYBE NOT - ANDY ROBERTS
To coal producers, 2015 must have seemed far longer than 365 days. From their perspective, as bad as markets were at the beginning of the year, and ...
Tuesday, 19 January 16
COALTRANS ASIA IS RETURNING TO BALI
22nd Coaltrans Asia
Coaltrans Asia is returning to Bali to bring together over 1000 industry decision makers and thought leaders for three day ...
Monday, 18 January 16
INDONESIAN 5700 GAR COAL INDEX ROSE 0.60% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline slightly week over week to averaging $39.93 per ton on this past Friday, acc ...
Monday, 18 January 16
BALTIC DRY SHIPPING INDEX DROPS TO 373 POINTS; DECLINE 13% WEEK OVER WEEK
COALspot.com: The freight market dropped this week as the BDI declined further 13 percent to 373 points week over week. The Cape index ...
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- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Planning Commission, India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
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