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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, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
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- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
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