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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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Sunday, 01 September 13
INDONESIA TO INDIA SPOT FREIGHT STAYS FIRM THIS WEEK - VISTAAR
COALspot.com: The freight market continued to be firm with even though the BDI and Cape index dropped by about 3 pct week on week.
The BDI was do ...
Friday, 30 August 13
US COAL PRODUCTION FELL 0.48 PERCENT WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.70 million short tons (mmst) of ...
Thursday, 29 August 13
HANDY: THE PACIFIC MARKET STARTED HEALTHY THIS WEEK - FEARNRESEARCH
Handy
The Pacific market started healthy this week. We have seen many bauxite, iron ore and few coal fixtures. Ships passing Singapore were able to ...
Thursday, 29 August 13
NO RATING IMPACT ON INDONESIAN ENERGY COMPANIES FROM RUPIAH DEPRECIATION - FITCH RATINGS
Fitch Ratings says the credit profiles of rated Indonesian energy and utilities companies, including thermal coal producers, will largely remain una ...
Wednesday, 28 August 13
THE BDI HAS MOVED TO LEVELS CONSIDERABLY STRONGER THAN THE BEGINNING OF THE YEAR - INTERMODAL
By George Bassakos
SnP Broker - Intermodal
We have already reached the end of August and whilst students are preparing themselves for another sc ...
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- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- The University of Queensland
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Planning Commission, India
- Singapore Mercantile Exchange
- Australian Coal Association
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
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