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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, 27 November 13
SHIP OWNERS ONCE AGAIN TURN TO DRY BULK CARRIERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners once again turned to more dry bulk carrier ordering over the course of the past week, as more and more appear convinced of the industry ...
Tuesday, 26 November 13
EWP INVITES COAL BIDS FOR 2014 - 2018 DELIVERIES
COALspot.com: Korea East-West Power Co. Ltd (EWP) invited bids to supply 130,000MT of min 5,600kcal/kg (Sub)-bituminous Coal on NCV basis for March ...
Tuesday, 26 November 13
NEWCASTLE COAL EXPORTS SLIP 22.62% W-W
COALspot.com: In the week ended November 25, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.26 ...
Monday, 25 November 13
THE SUB-BIT INDONESIA COAL SWAP MOVEMENT IN YEAR 2014 IS STILL FAR FROM PROMISING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 2.54 pmt month on month on Friday 22 Novemb ...
Sunday, 24 November 13
CFR SOUTH CHINA COAL SWAPS FOR Q4' 14 DELIVERY PRICE SHOWS A NEGATIVE TREND WEEK ON WEEK AND FLAT ON D-D
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.13 percept d-d on Friday 22 November 2013. The CFR South ...
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- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Planning Commission, India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
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