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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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Monday, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
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- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Planning Commission, India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
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