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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, 24 February 16
HOW IS THE FUEL MIX FOR U.S. ELECTRICITY GENERATION CHANGING? - EIA
In recent years, there have been changes in the mix of fuels used to generate electricity in the United States. Natural gas and renewable energy so ...
Wednesday, 24 February 16
PRIVATE EQUITY FUNDS LOOKING TO EXIT SHIPPING, MOST NOTABLY DRY BULK, AS OVERORDERING HAS RESULTED IN EXCESS TONNAGE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The injection of more than $13 billion in shipping from various private equity funds over the past few years has resulted in what many feared would ...
Wednesday, 24 February 16
THIRTEEN - NOT ALWAYS AN UNLUCKY NUMBER? - CLARKSONS
Back in early 1999 the price of a 5 year old Panamax bulkcarrier dipped to $13.5m, and ever since analysts have hailed purchase decisions made at t ...
Monday, 22 February 16
4200 GAR COAL INDEX SETTLES AT $27.02, DOWN 0.07% FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.17 percent week over week to averaging $38.89 per ton on this past Friday, ...
Monday, 22 February 16
FREIGHT MARKETS PICKED UP SLIGHTLY THIS PAST WEEK
COALspot.com: The freight markets picked up slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of gl ...
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- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- White Energy Company Limited
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
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