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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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Wednesday, 17 September 14
SHIPPING MARKET INSIGHT - GEORGE LAZARIDIS
Since the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving ...
Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for ...
Tuesday, 16 September 14
INDONESIAN COAL OUTPUT WON'T EXCEED 421M TONS: GOVT - JP
The government is optimistic that it will meet its coal production target for this year, which caps nationwide production at a flat number compared ...
Monday, 15 September 14
CHINA'S COAL PROPOSALS LEAVE SOME HOPE FOR EXPORTERS - DAILY NEWS
When the best thing you can say about new policies is that they aren’t as bad as they could have been, then you know your industry is in deep ...
Monday, 15 September 14
SUB-BIT FOB INDONESIA COAL SWAP, JANUARY 2015 DELIVERY GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.40 (+0.78%) day on day and US$ 0.55 (+1.08%) per mt week on week. The ...
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- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
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