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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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Thursday, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
COALspot.com: The 25% drop in the price of oil since July is likely to lift economic growth prospects, improve terms of trade, and have a pot ...
Thursday, 20 November 14
HANDY: INDO ROUNDS ARE BEING FIXED IN REGION OF US$ 10K - FEARNLEYS
Handy
In the Atlantic we have experienced firmer rates this week much lead by the grain activity out of USG. Vsls open in the USG can achieve in ...
Thursday, 20 November 14
DEMAND FOR DRY BULK CARRIERS INCREASES ON THE BACK OF HEIGHTENED FREIGHT RATE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners are looking to take advantage of favorable market conditions through the acquisition of more dry bulk carriers. According to shipbroker ...
Wednesday, 19 November 14
INDONESIA FUEL-PRICE RISE A CLEAR, POSITIVE REFORM SIGNAL - FITCH
COALspot.com: Indonesia's hike of more than 30% in administered fuel prices, announced on 17 November, provides a clear, positive signal of the ...
Wednesday, 19 November 14
CAPES WERE UNDER PRESSURE; LOST 20% WITHIN A WEEK
COALspot.com: " The negative environment in which the week prior ended, marked this past week as well, which closed off on Friday noting the f ...
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- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- The University of Queensland
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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