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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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- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Australian Coal Association
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
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