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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, 05 August 13
INDO GOVERNMENT'S DECLARED HBA IN AUGUST '13 FALL TO LOWEST LEVEL SINCE JANUARY '10
COALspot. com - HBA fell to US$ 76.70 this month, the lowest since January 2010. Indonesian Coal Price Reference fell 6.11% and hitting a 2013 ...
Sunday, 04 August 13
COAL SWAP MARKET HAS LOST DIRECTION; STRUGGLING TO CATCH UP
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average October 2013 delivery slightly down on day, week and month on Friday, 2 A ...
Sunday, 04 August 13
INDONESIA TO INDIA SUPRAMAX FREIGHT SOFT DUE TO HOLIDAYS IN INDONESIA - VISTAAR
COALspot.com : The freight market was fairly steady this week with the BDI recovering towards north since second half of the week with the support o ...
Friday, 02 August 13
DRY BULK MARKET STABILIZES ON RENEWED MARKET ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its positive footing this week, although it's still a far cry to deem the market situation as a growing one, especiall ...
Friday, 02 August 13
ASIA ACCOUNTS FOR 27.95 PERCENT OF US COAL EXPORTS IN Q1, 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.80 million short tons (mmst) of ...
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- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
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