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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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Sunday, 24 November 13
SUPRAMAX FREIGHT RATES REMAINED FIRM FROM INDONESIA TO INDIA AND CHINA - SOLYM
COALspot.com: The freight market was fairly steady except for the Supramax in SE Asia region which continued to remain firm. The BDI was down by 1.5 ...
Friday, 22 November 13
DRY BULK MARKET STILL LACKLUSTRE, DESPITE PROJECTIONS OF A NEW RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We might still be about six weeks far from the end of the year, but the projected by many analysts upcoming rally of the dry bulk market, hasn't ye ...
Friday, 22 November 13
US COAL PRODUCTION DOWN 1.3% W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Thursday, 21 November 13
TAIPOWER TO PROCURE 750K MT OF 5500 GAR BITUMINOUS COAL FOR MAY - AUGUST 2014
COALspot.com: Taiwan Power Company intends to procure 750,000 metric tons of bituminous coal with calorific value not lesser than 5,500 kcal/kg on a ...
Thursday, 21 November 13
CAPESIZE : THE DOWNWARD TREND HAS TURNED INTO NOTABLE SPOT AND PERIOD IMPROVEMENT - FEARNLEYS
Handy
The Atlantic market experienced a general rate increase for most trades this week. More cargoes in the market and chrts looking for prompt t ...
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- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
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