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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, 09 July 14
PANAMAX MARKET FINALLY CORRECTING UPWARDS; AVERAGE TC MORE THAN DOUBLING WEEK ON WEEK - INTERMODAL
The Dry Bulk market has closed off on Friday on a more positive note, with most segments noting weekly gains and the Panamax market finally correct ...
Wednesday, 09 July 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
The mini-boom in dry bulker values catapulted ship prices too fast too far over the last one-and-a-half year. The concurrence of historically low p ...
Tuesday, 08 July 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN IN JULY; LOST 1.62%
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia again revised down the coal bench mark price in July. HBA for month of J ...
Tuesday, 08 July 14
ENERGY IN THE MIX - INTERMODAL SHIPBROKERS
With the Tanker freight market having showed much promise this year compared to the performance that had been noted during the previous five, it is ...
Monday, 07 July 14
INDONESIA STATE-CONTROLLED COAL MINER BUKIT ASAM TO TRADE COAL ON-LINE THROUGH JFX
COALspot.com: Indonesian state owned coal miner PT Tambang Batubara Bukit Asam Tbk (PTBA) has teamed up with Jakarta Futures Exchange (JFX) to sell ...
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- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Australian Coal Association
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
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