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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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Friday, 25 October 13
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED TOTALLED 803.1 MMST
COALspot.com – United States the world’s second largest coal producer produced approximately 19.10 million short tons (mmst) of coal in ...
Thursday, 24 October 13
PANAMAX: RATES SLIP ACROSS BOTH HEMISPHERES
Handy
We were back from holidays but still not much enquiries in the market. Overall future direction is uncertain. Currently, ships passing Singap ...
Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leadin ...
Wednesday, 23 October 13
DRY BULK MARKET HAS SHOWN SIGNS OF STABILITY - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable-)
The Dry Bulk market has shown signs of stability this past week, with the sole exception of Capes, rates f ...
Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding f ...
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- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- The University of Queensland
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
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