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