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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, 04 October 12
CAPESIZE : IN SPITE OF THE HOLIDAYS IN CHINA, RATES ARE CLIMBING UP - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to east Med were around USD 13k and Black ...
Wednesday, 03 October 12
BARCLAYS'S PRICE FORECAST FOR NEWCASTLE COAL HAS BEEN WRITTEN DOWN
“ The main story in the global coal markets has been the growth in supply, with all of the major exporters adding volumes into a market which ...
Sunday, 30 September 12
SUB-BIT INDONESIA COAL SWAPS: MIXED TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 0.73 percent w-o-w but gained 0.41 percent d-o-d on Friday, 28 Se ...
Sunday, 30 September 12
INDONESIA HAS NO PLAN TO CAP COAL PRODUCTION
COALspot.com - “The current low coal prices were mainly due to a global oversupply condition, spurred by numerous mining exploitations in the ...
Sunday, 30 September 12
FREIGHT MARKET UNDER PRESSURE; OVERALL SENTIMENTS ARE STILL BEARISH
COALspot.com - The freight market seemed to have lost steam and all indices were down except for cape index.
The BDI was slightly down by 6 point ...
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- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Australian Coal Association
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
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