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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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Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
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- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Australian Coal Association
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Indian Energy Exchange, India
- Parliament of New Zealand
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
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