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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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Tuesday, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
Friday, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
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- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- ASAPP Information Group - India
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