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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, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
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- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- ASAPP Information Group - India
- MS Steel International - UAE
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- PTC India Limited - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
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