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