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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, 18 July 13
DRY BULK MARKETS RETAINS RECENT GAINS, MOVES SIDEWAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on moving sideways this week, as evidenced by the latest trends of the industry's benchmark, the Baltic Dry Index (BDI ...
Wednesday, 17 July 13
NEWCASTLE COAL EXPORTS FELL 3.85% ON WEEK
COALspot.com: Newcastle port in Australia has loaded 2,860,149 tons of coal for the week ended 0700 hours 15 July 2013, Newcastle Port Corp. s ...
Wednesday, 17 July 13
TORN BETWEEN A CREDIT CRUNCH AND SUSTAINABLE GROWTH - GEORGE DERMATIS
COALspot.com: In 2012 China expanded at a rate of 7.8%, its worst annual performance in 13 years, raising criticism over the newly appointed governm ...
Tuesday, 16 July 13
TAKE - OR - PAY CONTRACTS CONTINUE TO INCENTIVISE AUSTRALIAN COAL PRODUCERS DESPITE POTENTIAL NEGATIVE CASH MARGINS - WOOD MACKENZIE
Australia's coal production has continued to grow, despite lower coal prices in 2013. Global investors and suppliers are therefore questioning whet ...
Monday, 15 July 13
INDONESIAN GOVERNMENT HAS REVISED DOWN ITS JULY BENCH-MARK COAL PRICE TO US$ 81.69 PER MT
COALspot. com - Indonesian Coal Price Reference dropped 3.75 % and hitting a 2013 low. The Indonesian government has revised down its owned coal ben ...
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- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- VISA Power Limited - India
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