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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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Friday, 20 September 13
DRY BULK MARKET REACHES NEW HEIGHTS THIS WEEK STANDING AT THREE-YEAR HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The biggest rally of the dry bulk market in more than three years have brought back joy among ship owners, especially those active in the Capesize m ...
Friday, 20 September 13
US COAL PRODUCTION SLIGHTLY UP WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer produced totalled approximately 20.30 million short tons (mmst) of ...
Friday, 20 September 13
COLOMBIA SHIPPED 31.14 MILLION TONS OF THERMAL COAL IN H1
COALspot.com : Colombia’s coal exports fell by 20.59 percent in June 2013 compared to Colombia’s May's export of 7,633,579 MT.
Colom ...
Thursday, 19 September 13
CAPESIZE : AVERAGE DAILY EARNINGS HAVE GAINED ALMOST USD 6K WOW - FEARNLEYS
Handy
The rates in Feast are still firm this week even the activity calmed down a bit as chrtrs are not in a rush to cover even their end Sept carg ...
Wednesday, 18 September 13
IRON ORE AND ZINC ARE BEST PERFORMING MINING SECTORS IN CURRENT LOW PRICE, HIGH COST ENVIRONMENT - WOOD MACKENZIE
With the fall in commodity prices, cash margins in the mining industry have come under pressure. Accordingly, producers and investors are placing in ...
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- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
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