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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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Friday, 26 September 14
NEWCASTLMAXES ARE THE MOST SOUGHT AFTER VESSELS BY SHIP OWNERS TODAY SAYS VESSELS VALUE
KNOWLEDGE TO ELEVATE
Determining a ship’s fair value can be a very tricky business, especially when you’re the one paying. As such ...
Thursday, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
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- Romanian Commodities Exchange
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- The University of Queensland
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
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