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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, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
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- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
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