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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, 14 August 14
INDIA'S PLAN TO START AN INFRASTRUCTURE BOOM AND TO INVEST US$ 1 TRILLION BY 2017 WILL SURELY AFFECT THE DRY BULK TRADE - FEARNLEYS
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Wednesday, 13 August 14
WEEKLY MARKET INSIGHT - KONSTANTINOS KONTOMICHIS SNP BROKER
Being at the peak of the holiday season, August is, as usual, the quietest month in terms of snp transactions, yet it is also a time very critical ...
Wednesday, 13 August 14
WHAT DOES PROJECT CARGO REALLY MEAN TO INSURERS?
KNOWLEDGE TO ELEVATE
Richard Kamppari-Baker, claims manager of FP Marine Risks, explains the challenges of project cargo risk assessment from ...
Wednesday, 13 August 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN CLOSE TO 57 MONTHS LOWS
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price in August. HBA for the month of A ...
Monday, 11 August 14
LARGEST CHINESE TRADE SURPLUS EVER RECORDED IN JULY - BIMCO
China recorded a trade surplus of USD 47.3 billion in July 2014. The record high surplus came on the back of very strong export growth while import ...
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- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Australian Coal Association
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
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