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