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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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Thursday, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
Wednesday, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
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- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Economic Council, Georgia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
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