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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, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
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- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
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