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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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Monday, 11 July 16
THE MAIN SEA FREIGHT INDEX, BDI ROSE FURTHER ON 8 JULY DUE TO STRONG DEMAND FOR PANAMAX SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.84 percent from las ...
Monday, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
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- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- White Energy Company Limited
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
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