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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, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
Thursday, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
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- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
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