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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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Sunday, 06 December 15
DRY BULK MARKET ON REVERSE MODE, SET TO BREAK NEW ALL-TIME LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been the negative “star” of the shipping industry for quite some time. In fact if it wasn’t for the boomi ...
Sunday, 06 December 15
DESPITE TEMPTING NEWBUILDING PRICES, CONTRACTING IN DRY BULK REMAINS LOW - BIMCO
The current newbuilding prices for dry bulk ships has dropped so much that they just passed the lows of 2012 heading downwards and are now at the l ...
Friday, 04 December 15
FOB INDONESIA COAL SWAPS ARE ALMOST FLAT OVER WEAK DEMAND
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and rose slightly week over week. Coal prices seen very margi ...
Friday, 04 December 15
COAL PRODUCTION IN THE U.S. FOR W/E NOVEMBER 28TH FELL SLIGHTLY FROM THE PREVIOUS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 15.0 million shor ...
Friday, 04 December 15
MINING OUTLOOK WEAKENS FURTHER ON FALLING CHINESE DEMAND - FITCH
COALspot.com: Fitch Ratings' outlook for the global mining sector in 2016 is firmly negative, reflecting our view that Chinese demand will cont ...
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- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
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