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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, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
Sunday, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points.
The Cape Si ...
Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...
Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...
Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Australian Coal Association
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
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