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