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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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Monday, 28 September 15
CAPESIZE FLEET INCREASES BY JUST 1 VESSEL DURING LAST 12 MONTHS, IN POSITIVE SIGN FOR DRY BULK SHIPPING MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
After a rather tumultuous period, the shipping industry and more particular the dry bulk market has started to adjust to the new realities of globa ...
Monday, 28 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP ROSE 2.73 PER CENT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery moved upward US$ 1.45 (3.04 %) per ton month over month.
A commodity ...
Sunday, 27 September 15
THE PANAMAX INDEX FELL 1.19 PCT WEEK OVER WEEK
COALspot.com: The BDI closed Friday (25/09/2015) at 943 points, down by 17 points compared to previous Friday closing (18/09/2015). The BDI wa ...
Friday, 25 September 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING SEPTEMBER 19 ROSE 2.5% PER CENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Wednesday, 23 September 15
CAPESIZE: SPOT RATES HAVE INCREASED MORE THAN 70 PER CENT DURING LAST WEEK
Dry Bulk owners, always look at September as the time that the market “signals” what lies ahead for the remainder of the year. The Chin ...
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- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- VISA Power Limited - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
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