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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, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
Thursday, 12 February 15
INDONESIAN COAL PRICE REFERENCE INCHED DOWN 1.44% IN FEBRUARY
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 62.92 pe ...
Thursday, 12 February 15
NEWBUILDING ORDERING ACTIVITY DRAGS ON, AS OWNERS ARE LOOKING FOR LOWER PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners appear to be waiting for lower prices in their dealings with Asian shipyards, as the dry bulk market is at historical lows. According t ...
Wednesday, 11 February 15
DRY BULK MARKET REMAINED UNDER PRESSURE : STABILIZING CAPE MARKET HARDLY HELPED SENTIMENT
COALspot.com: The Dry Bulk market remained under pressure last week, while the stabilizing Cape market hardly helped sentiment.
Greece based s ...
Wednesday, 11 February 15
BDI HITTING THE ALL-TIME LOW; FFA MARKETS NOT SHOWING ANY POSITIVE SIGNS
With the BDI hitting the all-time low and with FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is ...
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- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- London Commodity Brokers - England
- Economic Council, Georgia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
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