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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 June 14
HANDY : TA MARKET IS CONTINUING SOUTH WITH A DECREASE OF 26% W-O-W
Handy
The week started off with holidays in most European countries and the TA market is continuing south with a decrease of 26% w-o-w. We do see ...
Thursday, 12 June 14
CONSOLIDATION IS THE ' NAME OF THE GAME' WHEN IT COMES TO SHIPYARDS ACROSS ASIA - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Intense competition, a swelling of new greenfield shipyards over the past few years mainly in China, especially prior to the 2008 global financial ...
Wednesday, 11 June 14
INDONESIA'S COAL EXPORT VOLUME AND REVENUE SLIPS 2.75% AND 6.73% RESPECTIVELY IN APRIL
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.8* b ...
Wednesday, 11 June 14
BPI TOUCHING A NEW LOW FOR THE YEAR
The Dry Bulk market closed off the week positively, on the back of firming Capesize rates, while the market overall continues to face a very challe ...
Monday, 09 June 14
GOVT GETS TOUGH ON ILLEGAL MINING, SUSPENDS LICENSES - THE JAKARTA POST
The government has temporarily suspended the licenses of 62 mineral and coal transportation companies as part of its efforts to curb illegal mining ...
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- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- MS Steel International - UAE
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Australian Coal Association
- VISA Power Limited - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- PTC India Limited - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
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