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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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Saturday, 28 March 15
THE DRY BULK FLEET AT BREAKING POINT - CLARKSONS
The severe oversupply in the bulkcarrier fleet has contributed to the current trough in the dry bulk market, putting considerable financial pressur ...
Friday, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
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- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
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