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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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Thursday, 19 March 15
HANDY: INDO COAL CARGOS DESTINED FOR INDIA BEING FIXED IN REGION OF $ 7-8K - FEARNLEYS
Handy
The Handy and Supra market has had a week with mixed signals. Although we see more activity in both hemispheres the rates are only up about ...
Thursday, 19 March 15
INDONESIAN COAL BENCHMARK SOAR 7.69% IN MARCH....!!!
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised up Indonesian coal benchmark prices to US$ 67.76 per MT in March ...
Wednesday, 18 March 15
AVERAGE RATE FOR CAPES MOVED TO BELOW $ 4K/DAY LAST WEEK - INTERMODAL
COALspot.com: The even heavier losses noted in the Capesize segment last week, denied the Dry Bulk market a third weekly positive, while the smalle ...
Wednesday, 18 March 15
PARKING THE CAPES - LINOS KOGEVINAS
It is no secret that recent times have been anything but kind towards shipping, and no sector has suffered more lately than the dry bulk one. While ...
Wednesday, 18 March 15
CHINA-OWNED SHIPS: A RAPID RISE TO BECOME ONE OF THE WORLD'S LARGEST FLEETS - RICHARD SCOTT
Ships operated by owners based in China have become increasingly prominent on the world’s sea routes. China-owned container ships, bulk carri ...
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- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Australian Coal Association
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
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