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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, 12 February 14
NEW BUILDING ORDERS REACHING NEW POST-CRISIS HEIGHTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are looking to take advantage of the last few attractive deals in the new building market, before prices start climbing to new highs and ...
Wednesday, 12 February 14
2013 WAS THE YEAR OF PRIVATE EQUITY FUNDING - TIMOS PAPADIMITRIOU
COALspot.com: People say that money makes the world go round. Well, can it be that it’s the other way around? Is it possible that money needs ...
Tuesday, 11 February 14
INDONESIAN COAL SWAP SHOWS STRONG GROWTH IN 2014 SECOND HALF
COALspot.com – Swaps prices slide for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
T ...
Tuesday, 11 February 14
AUSTRALIA'S NEWCASTLE COAL EXPORTS SLIDE AROUND 15% WEEK ON WEEK
COALspot.com: In the week ended 10 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 11 February 14
SHIP OWNERS INVEST IN 447 NEWBUILDINGS AND SECOND HAND VESSELS DURING JANUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite a rough start to the year for the dry bulk freight market and lackluster performance from most other shipping sub-segments, ship owners have ...
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- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- PTC India Limited - India
- Australian Coal Association
- ICICI Bank Limited - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
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