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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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- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
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