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