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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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Wednesday, 26 March 14
NEWBUILDING ORDERING ACTIVITY PICKS UP PACE ON IMPROVING DRY BULK MARKET CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The gradual improvement of the dry bulk market, as expected for some time now, is urging shipowners to increase their newbuilding ordering activ ...
Wednesday, 26 March 14
LARGE AMOUNT OF VESSELS CHARTERED TO HAUL IRON ORE CARGOES TO CHINESE BUYERS THIS WEEK - COMMODORE RESEARCH & CONSULTANCY
COALspot.com: Through the first three days of this week, 18 dry bulk vessels have been chartered to haul spot iron ore cargoes to Chinese buyers ...
Wednesday, 26 March 14
JOIN IN THE CLEAN COAL CASE STUDY WITH SINOPEC!
Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite Experts ...
Tuesday, 25 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR Q2 DELIVERY CLOSED $ 57.40 PMT W/E 21 MARCH 2014
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 25 March 14
NEWCASTLE COAL EXPORTS JUMP 29.16% TO 2.79 MMT WEEK ON WEEK
COALspot.com: In the week ended 24 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2.79 ...
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- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
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