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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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- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
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