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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, 09 March 15
CHINA'S IMPORTS - NEVER MORE IMPORTANT TO SHIPPING? - CLARKSONS
Over the last 15 years China has led maritime forecasters a right old dance. In 2002, rumours that Chinese iron ore imports were about to take off ...
Sunday, 08 March 15
FREIGHT RATES FROM INDONESIA TO INDIA IS TRENDING UP
COALspot.com: The freight market continued to see gains this week and all the indices were rose except for Cape index. The BDI was increased 4.62 p ...
Friday, 06 March 15
BALTIC DRY INDEX: IS THIS POWERFUL INDICATOR SIGNALING A GLOBAL RECESSION? - STREET AUTHORITY
Although memories of the Great Recession linger, a case can be made that better days lie ahead.
That’s because central banks around the ...
Friday, 06 March 15
U.S. WEEKLY COAL PRODUCTION ROSE 3.5% WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.1 million short tons (mmst) of coal ...
Thursday, 05 March 15
PANAMAX : THE ATLANTIC ROUND IS NOW PAYING AROUND US$ 5K PER DAY
COALspot.com: Handy - The activity in the handy/supra segment is back. “ We see more fresh cargo in the market for 2nd half March dates ...
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- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Australian Coal Association
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
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