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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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Friday, 28 August 15
DRY BULK SHIP OWNER OPTIMISTIC ABOUT FUTURE PROSPECTS OF THE MARKET: NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk ship owner Golden Ocean appeared optimistic on the long term prospects of the dry bulk market, mainly thanks to an expected resolution of ...
Friday, 28 August 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING AUGUST 22 ROSE FOR THE THIRD STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.5 million shor ...
Friday, 28 August 15
BANPU STRENGTHENS GROWTH PLAN
Coal Business: Asia-Pacific Synergies Increase Competitiveness for Premium Export Market.
Banpu Public Company Limited (BANPU) strengthens its ...
Thursday, 27 August 15
RATES FOR CAPES REMAINED ON A FREE FALL LAST WEEK - INTERMODAL
COALspot.com: Keeping everyone on their toes with the volatility seen in August, the Dry Bulk market undoubtedly remains a steady provider of chall ...
Wednesday, 26 August 15
MARKET INSIGHT - STRATOS TINIAKOS
It’s always interesting to comment on the market when big economies around the world are facing troubling times. Following the collapse of th ...
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- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Marubeni Corporation - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
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