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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, 28 June 13
U.S. PRODUCED 1.52 PERCENT LESS COAL WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 19.40 million short tons (mmst) of ...
Thursday, 27 June 13
US COAL EXPORTS BEATS CHINESE COAL IMPORTS AS THE MOST INFLUENTIAL COAL TRADE - BIMCO
The influence of American coal exports on seaborne transportation has grown significantly over the past decade. In 2002, the US exported 20.1 millio ...
Thursday, 27 June 13
HANDY : USD 12000 FOR SPOT COAL INDO/CHINA AND AROUND USD 13000 INDO/ECI - FEARNLEYS
Handy
Atlantic rates hold well. Continent to Far East is worth more than USD 14k daily whilst USG to Far East pay 23/24k a day. On the route from B ...
Thursday, 27 June 13
DRY BULK CARRIERS DOMINATE NEWBUILDING ORDERS AS SHIP OWNERS ARE ENCOURAGED BY LATEST FREIGHT RATE RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders for dry bulk carriers were already high, compared to last year, prior to the latest rally of the Baltic Dry Index (BDI), which ha ...
Tuesday, 25 June 13
CAPESIZE MARKET TO REMAIN BULLISH SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been experiencing its long-awaited rally, with the Baltic Dry Index, the industry's benchmark rising to healthier levels fo ...
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- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- The University of Queensland
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