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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, 04 August 15
SHIPPING CYCLES - A CHESS GAME YOU DON'T WANT TO LOSE - CLARKSONS
Ingmar Bergman’s classic movie The Seventh Seal is about a knight who, during the Black Death, challenges Death to a chess match, in the hope ...
Monday, 03 August 15
NEWCASTLE COAL SWAPS DECLINE FURTHER THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.92 per MT (-4.22%) month over month to US$ 43.58 per mt. The swap ...
Monday, 03 August 15
CFR SOUTH CHINA COAL SWAPS SLIDE THIS WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.64 (3.14%) per MT month over month.
A commodity swap ...
Sunday, 02 August 15
CAPESIZE RATES PUSH BDI UPWARD
COALspot.com: The freight market was buoyant this week as BDI rose 4.14 pct to 1131 points. The cape index was also increased 16.50 pct 2209 points ...
Saturday, 01 August 15
DRY BULK MARKET KEEPS ITS MOMENTUM, AS OUTLOOK IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although conditions remain more than challenging, especially from an economic point of view (aka China’s stock worries), the dry bulk market ...
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- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- White Energy Company Limited
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Posco Energy - South Korea
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Planning Commission, India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
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