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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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Friday, 17 January 14
DRY BULK MARKET ENDS DECLINE, BOUNCES BACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a rough start to the New Year for the dry bulk market, which was supposed to be on the verge of rallying to new heights this year, on the ...
Friday, 17 January 14
SPOT COAL PRICE TRENDS IN US VARY ACROSS KEY BASINS DURING 2013, SAYS EIA
COALspot.com: Spot steam coal price trends in US varied across key basins in 2013, a latest EIA report says. Compared with 2012, while total coal de ...
Thursday, 16 January 14
PANAMAX : THE GAP BETWEEN SPOT AND PERIOD HAS INCREASED IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upw ...
Thursday, 16 January 14
SHIP OWNERS SCRAP 1,119 SHIPS DURING 2013 ON THE BACK OF OVERSUPPLY ISSUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Scrapping of older vessels is still the best bet that ship owners can make, in order to improve their newer vessels' fortunes, amid an oversupply o ...
Wednesday, 15 January 14
KOREA MIDLAND POWER CO INVITES BIDS FOR 360K MT OF SUB-BITUMINOUS COAL FOR ITS BORYEONG PLANT
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 360,000 Metric Tons (MT) of sub-bituminous ...
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- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- The Treasury - Australian Government
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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