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