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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, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
Thursday, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
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- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Australian Coal Association
- MS Steel International - UAE
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
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