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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, 14 June 13
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.20 MILLION SHORT TONS W/E 8 JUNE 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.20 million short tons (mmst) of ...
Thursday, 13 June 13
HANDY: SHORT PERIOD WERE FIXED AT AROUND USD 9000 LEVEL
Handy
Despite falling rates for bigger sizes, the Supras in Atlantic are seeing some improvements with fresh biz. US Gulf positions fetching tick a ...
Thursday, 13 June 13
BIMCO EXPECTS SUBDUED CAPESIZE EARNINGS FOR THE COMING WEEKS - HELLENIC SHIPPING NEWS
Bulk is not only about China even though it is a key driver. In this section, we have taken a closer look at the European seaborne coal markets, whi ...
Thursday, 13 June 13
RIO TINTO AGREES SALE OF EAGLE PROJECT FOR AN ESTIMATED US$325 MILLION IN CASH
COALspot.com - Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated US$325 million in c ...
Thursday, 13 June 13
HARD COAL IMPORTS RISE SHARPLY IN GERMANY IN Q1 2013 - COAL IMPORTERS ASSOCIATION
Coal-fired Power Plants in Germany: Pillars of the Grid and the Energy Turnaround; Hard Coal Consumption and Hard Coal Imports Rise Sharply in Germa ...
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- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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