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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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Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
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- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
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