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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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- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- PTC India Limited - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
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