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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, 30 January 14
JPU SETTLEMENT PRICE AS A BENCHMARK WILL DECLINE IN IMPORTANCE BUT REMAIN RELEVANT, SAYS WOOD MACKENZIE
JPU price will remain above spot, trending closer to spot till 2015 then increasing to 2035.
Japanese Power Utilities (JPU) are approaching a cru ...
Thursday, 30 January 14
PANAMAX MARKET IS SOFTENING ON LESS ACTIVITY IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic rates have been slowly sliding but ows can still achieve decent money for TArv´s. USG positions still being fixed in re ...
Thursday, 30 January 14
TANKER PROFITABILITY IS THE 'MILLION-DOLLAR' QUESTION FOR SHIP OWNERS THIS YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market conditions are expected to remain challenging throughout the year for tanker owners, but even more pressing will be the issue of a ...
Tuesday, 28 January 14
GLOBAL COKING AND STEAM COAL PRODUCTION HAVE GROWN 2% TO 3% TO ABOUT 7.1 BILLION TONNES AS OF THE END OF 2013 - VDKI
COALspot.com (Press Release): Initial figures on the world hard coal market at the VDKi ((Association of Coal Importers - German) New Year’s R ...
Tuesday, 28 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS JUMP 13.75% WEEK ON WEEK
COALspot.com: In the week ended 27 January 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
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- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
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