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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, 26 March 14
NEWBUILDING ORDERING ACTIVITY PICKS UP PACE ON IMPROVING DRY BULK MARKET CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The gradual improvement of the dry bulk market, as expected for some time now, is urging shipowners to increase their newbuilding ordering activ ...
Wednesday, 26 March 14
LARGE AMOUNT OF VESSELS CHARTERED TO HAUL IRON ORE CARGOES TO CHINESE BUYERS THIS WEEK - COMMODORE RESEARCH & CONSULTANCY
COALspot.com: Through the first three days of this week, 18 dry bulk vessels have been chartered to haul spot iron ore cargoes to Chinese buyers ...
Wednesday, 26 March 14
JOIN IN THE CLEAN COAL CASE STUDY WITH SINOPEC!
Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite Experts ...
Tuesday, 25 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR Q2 DELIVERY CLOSED $ 57.40 PMT W/E 21 MARCH 2014
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 25 March 14
NEWCASTLE COAL EXPORTS JUMP 29.16% TO 2.79 MMT WEEK ON WEEK
COALspot.com: In the week ended 24 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2.79 ...
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- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- The University of Queensland
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Australian Coal Association
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