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