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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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Sunday, 15 February 15
BALTIC DRY INDEX CONTINUALLY DIPPED IN RED
COALspot.com: The Baltic Dry Index continues its decline and fell 5.18 pct to 530 points week on week due to falling commodity prices and declining ...
Saturday, 14 February 15
SHALE GAS AND TIGHT OIL ARE COMMERCIALLY PRODUCED IN JUST FOUR COUNTRIES - EIA
KNOWLEDGE TO ELEVATE
The United States, Canada, China, and Argentina are currently the only four countries in the world that are producing com ...
Friday, 13 February 15
U.S. WEEKLY COAL PRODUCTION SHOWS 10% DECLINE
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.1 million short tons (mmst) of coal ...
Friday, 13 February 15
SMALL AND MEDIUM-SIZED SHIP OWNERS SQUEEZED OUT OF THE MARKET ON CRASHING DRY BULK MARKET AND EUROZONE CRISIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Financing issues have started to tighten the noose in the throats of small and medium-size ship owners, who were already facing problems over the p ...
Thursday, 12 February 15
CAPESIZE: THE BEST DESCRIPTION FOR THE MARKET IS, FLAT - FEARNRESEARCH
Handy
The handy and supra market is also being affected by the marginal volume of activity in the commodity sales. We see a small upturn in the T ...
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- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- The University of Queensland
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
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