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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, 20 June 13
CAPESIZE : FINALLY A SUBSTANTIAL IMPROVEMENT IN RATES! - FEARNLEYS A.S
Handy
Atlantic market kept a steady curve from last week. US Gulf positions fetched tick above USD 21k for Cont/Skaw direction, and vessels fixed f ...
Wednesday, 19 June 13
NEWCASTLE SHIPPED 16.05 PERCENT LESS COAL W/E 17 JUNE 2013
COALspot.com - Newcastle port in Australia has loaded 2,606,071 tons of coal for the week ended 0700 hours 17 June 2013, Newcastle Port Corp. ...
Sunday, 16 June 13
WEAK DEMAND KEEPS COAL PRICES LOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 2.94 percent week on week but gained 0.06 percent ...
Saturday, 15 June 13
S7 AND S8 ROUTES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week freight movement was fairly firm with news of China is rebuilding iron ore stockpiles, and ease import rules. Cape and Pana ...
Saturday, 15 June 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO AND A HALF YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for two and a half years in the three months ended May 2013, accordin ...
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- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
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