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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, 06 August 14
CAPES: BUSINESS INTEREST REMAINS SOFT; CURRENTLY NO SIGNS OF IMPROVEMENT - INTERMODAL
COALspot.com: Despite the considerable pressure witnessed in the freight market for most of the size segments, the Dry Bulk Index was able to note ...
Wednesday, 06 August 14
SHIPPING MARKET INSIGHT - EVA TZIMA
Recent reports that Indonesia’s ban on exports of metal ore concentrates was lifted for the first time in six months for two of its biggest m ...
Wednesday, 06 August 14
SGX SUCCESSFULLY LAUNCHED NEW SGX COAL PRODUCTS
COALspot.com: Singapore Exchange (‘SGX’) has announced that, the exchange has successfully launched its new Coking and Thermal Coal pro ...
Monday, 04 August 14
ANNUAL SECOND HALF SURGE IN BRAZILIAN IRON ORE EXPORTS ABOUT TO BEGIN - JEFFREY LANDSBERG
COALspot.com: Great strength in the capesize market has all along been set to occur during the second half of this year, as that is when Brazilian ...
Monday, 04 August 14
SUB-BIT FOB INDONESIA COAL SWAP INCHES UP DESPITE LOW DEMAND
COALspot.com: Indonesian coal swaps for average Q4’ 2014 increased US$ 0.15 day on day and US$ 0.13 per mt week on week. But, the swap was lo ...
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- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- The University of Queensland
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
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