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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, 27 January 14
Q3 2014 SUB-BIT INDONESIA COAL SWAP LOST GROUND, ENDS AT $60 PMT
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost 2.29% pmt month on month on Friday 24 January 2014. Th ...
Sunday, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
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- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- The University of Queensland
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
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