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