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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, 16 July 14
INDIA BUDGET HAS LIMITED SHORT TERM IMPACT ON POWER SECTOR - FITCH RATINGS
Fitch Ratings says that the measures announced relating to India's electricity sector in the budget for FY2015 are directionally correct but in ...
Wednesday, 16 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
Wake me up when September ends - Theodore Ntalakos
Since last September most thought that the worst was behind us. It looks like the market de ...
Tuesday, 15 July 14
INDONESIA'S TOTAL COAL PRODUCTION REACHED ANOTHER HIGH DURING THE FIRST SIX MONTHS; GOVERNMENT EXPECTED TO RAISE ROYALTIES
COALspot.com: Indonesia's total coal production reached 213 million tons during January through June, up by 7.6 percent y-o-y. Coal output in I ...
Monday, 14 July 14
THE END OF THE ERA OF HEAVY FUEL OIL IN MARITIME SHIPPING - ICCT
KNOWLEDGE TO ELEVATE
Since the 1960s, heavy fuel oil (HFO) has been the king of marine fuels. Viscous, dirty, yet inexpensive and widely avail ...
Monday, 14 July 14
SGX SUB-BIT FOB INDONESIA COAL SWAP FOR Q4' 14 DELIVERY CLOSED AT $ 54.80
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
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- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- The University of Queensland
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
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