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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, 25 November 15
INDIA'S POWER GENERATORS FACE LOW, FALLING UTILISATION RATE - FITCH
COAlspot.com: Fitch Ratings says in a new report that the utilisation rate of India's thermal power generation capacity continued to decline in ...
Wednesday, 25 November 15
BIG CHINESE COPPER PROCESSORS DEFEND MARGINS THROUGH R&D, SAYS FITCH
Large Chinese copper processors are focusing on higher value-added products and investing in R&D to enhance their technical know-how to maintai ...
Wednesday, 25 November 15
BIMCO LAUNCHES ANTI-CORRUPTION CLAUSE FOR SHIPPING CONTRACTS WORLDWIDE
COALspot.com: BIMCO, is the world’s largest international shipping association, with 2,200 members in around 130 countries, has now launched ...
Wednesday, 25 November 15
TANKER MARKET INSIGHT - GEORGE VASTARDIS
We have already noticed obvious signs of activity mainly West of Suez, which are currently driving the clean MR market to higher levels. Over the p ...
Tuesday, 24 November 15
COAL SUPPLY PRESSURE PUTS INDONESIAN HBA IN FREE FALL
The coal industry is slowly recognizing that, the current coal price level is not a decrease in price, but a change in pricing to corresp ...
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- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
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- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
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- Eastern Energy - Thailand
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- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
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- Price Waterhouse Coopers - Russia
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- Petron Corporation, Philippines
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- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
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- New Zealand Coal & Carbon
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- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
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- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Economic Council, Georgia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- PTC India Limited - India
- White Energy Company Limited
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
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