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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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Thursday, 07 November 13
THE ENERGY INDUSTRY'S RISING WATER CHALLENGE - WOOD MACKENZIE
Water poses a variety of business risks for the energy industry, and could play an influential role in shaping the future energy supply mix, accordi ...
Thursday, 07 November 13
HANDY : INDO/CHINA ROUNDS ARE SEEING BIDS AT AROUND $16K
Handy
In the Atlantic we have seen more activity this week with several fixtures being concluded at firm rates. USG/Feast been reported at 30k and ...
Wednesday, 06 November 13
THE BIGGER SIZE SEGMENTS LOST GROUND WHILE SUPRAS AND HANDIES HELD ON TO THEIR GAINS - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable- )
A mirror image of the week prior for the Dry Bulk market, as once more the bigger size segments los ...
Wednesday, 06 November 13
WILL NEW ORDERS DRIVE THE MARKET DOWN AGAIN ONCE DELIVERIES COMMENCE
"While there are many concerns on whether the new orders will drive the market down again once deliveries commence, the second half of 2013 has ...
Tuesday, 05 November 13
AUSTRALIA'S NEWCASTLE PORT SEES DROP IN COAL EXPORTS W-W
COALspot.com: In the week ended November 4, Power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.77 m ...
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- The University of Queensland
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Australian Coal Association
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
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