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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, 03 October 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
The bunker fuel supply and availability landscape is close to its transformation with the enforcement of the IMO’s global 0.5% fuel Sulphur c ...
Tuesday, 02 October 18
PANAMAX: A FURTHER RISE ACROSS ALL MAIN ROUTES THIS WEEK - ALLIED
Capesize
Finally an upward recovery was in sight in the spot market the past few days, after the prolonged negative pressure noted the weeks pr ...
Tuesday, 02 October 18
THE PRICE OF OIL CONTINUES ITS CLIMB AMIDST A SERIES OF CONCERNS REGARDING SUPPLY CONSTRAINTS - GEORGE LAZARIDIS
It has been a busy week for oil traders as the price of oil continues its climb amidst a series of concerns regarding supply constraints.
...
Tuesday, 02 October 18
INDONESIA GETS READY TO MEET INCREASED COAL DEMAND FROM CHINA, FREIGHT TO RESPOND - MIKAL BOE
Indonesian coal suppliers have increased their domestic coal production target by 4.5 percent from a previous 485 million tonnes to a massive 507 m ...
Monday, 01 October 18
SUPRAMAX: A 56,000 DWT FIXED DELIVERY FOR A SURABAYA TRIP WITH REDELIVERY TO WEST COAST INDIA AT $13,500 - THE BALTIC BRIEFING
Capesize
A stop-start market for the big ships with many expectations and few fulfilled. Holidays curtailed trading early in the week, but the ...
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- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Cement Manufacturers Association - India
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