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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, 21 May 14
SHIPPING: MARKET INSIGHT - GEORGE LAZARIDIS
The recent revision by the OECD of its global growth forecast has sparked a debate as to the potential outcome these new figures will have on seabo ...
Tuesday, 20 May 14
NEWCASTLE'S COAL EXPORT VOLUME UP 39.11 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 19 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
Tuesday, 20 May 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with sl ...
Tuesday, 20 May 14
DRY BULK MARKET IS BOUND FOR A RECOVERY CLAIMS PARAGON SHIPPING'S HEAD MICHAEL BODOUROGLOU
The dry bulk market is bound for a recovery in the coming weeks, as the market will be better balanced, said Mr. Michael Bodouroglou, Chairman and ...
Monday, 19 May 14
INDO COAL SWAPS FOR AVERAGE Q3' 2014 DELIVERY LOST ON WEEK AND ON MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
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- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Planning Commission, India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
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