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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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- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
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