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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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Saturday, 22 February 14
POTEN RAISES THE QUESTION OF ACCURACY IN CALCULATING TANKER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the tanker market has grown in complexity over the course of the past few years, the question of whether the traditional methods of assessing rat ...
Friday, 21 February 14
INDONESIA PLAN TO CAP COAL OUTPUT AND HIKE ROYALTY; START MUSIC
COALspot.com: Energy and Mineral Resources Ministy of Indonesia is planning to increase the royalty for coal miners particularly for Mining Business ...
Friday, 21 February 14
THE WORLD'S SECOND LARGEST COAL MINER MINED 19.2 MMST OF COAL IN A WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, mined approximately 19.2 million short tons (mmst) of coal in a w ...
Friday, 21 February 14
DRY BULK MARKET SHOWS SIGNS OF LIFE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has slowly started to emerge from the downfall it's been since the start of the year, as rates have began to pick up over the c ...
Friday, 21 February 14
INDONESIA COAL OUTPUT CAP TO HURT MINERS RELIANT ON VOLUME GROWTH, FITCH SAYS
Fitch Ratings says that the credit profiles of mining sub-contractors and miners highly reliant on increasing volumes to support high debt servicing w ...
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- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
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