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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, 30 May 13
HANDY: RBCT ROUND WAS AROUND USD 9K + 300 BB - FEARNRESEARCH
Handy
THE Atlantic market remained flat. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market remained quiet with no ...
Wednesday, 29 May 13
SHIP OWNERS KEEP ON SPENDING ON NEWBUILDINGS AS PRICES ARE DEEMED TOO LOW TO RESIST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It's been yet another week on increased newbuilding ordering activity with Hellenic ship owners appearing rathe active, on the back of attractive f ...
Tuesday, 28 May 13
NEWCASTLE PORT SHIPPED 9.76 PERCENT MORE COAL W/E 27 MAY 2013
COALspot.com - Newcastle port in Australia has loaded 2,420,366 tons of coal for week ended 0700 hours 27 May 2013, Newcastle Port Corp. said ...
Sunday, 26 May 13
AMPLE SUPPLY, LOW DEMAND KEEP COAL PRICES UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.07 percent and API 8 CFR South China Coal shipment los ...
Friday, 24 May 13
ENGAGEMENT WITH POTENTIAL STRATEGIC AND OFF TAKE PARTNERS ACCELERATING - REALM RESOURCES
COALspot.com - Following the recent completion of the Feasibility Study, the Realm Resources Ltd. (ASX: RRP) has focused on securing strategic ...
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- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
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