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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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Monday, 15 April 13
SUB - BIT INDONESIA COAL SWAP SHOWS POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.70 percent and CFR South China coal shipment&nbs ...
Saturday, 13 April 13
THE FREIGHT MARKETS EXPECTED TO HOLD FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - This freight market firmed up this week and all sectors were up except for Supramax index.
The BDI was up by 1.62 pct closing at 8 ...
Friday, 12 April 13
DRY BULK SHIP OWNERS DEVELOPED NEWFOUND APPETITE FOR BULKERS DURING FIRST QUARTER OF 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's official; more and more ship owners operating in the dry bulk market appear to have developed a newfound optimism in the market's prospects. ...
Thursday, 11 April 13
HANDY: INDO - INDIA NOW BEEN REPORTED AT APS BASIS AT USD 10K+BB 85K - FEARNLEYS
Handy
The Atlantic markets remain with not many cargoes seen this week. The USG-Feast was at USD 18k and Black Sea-Feast was at USD 12k. The Pacifi ...
Thursday, 11 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 15.96 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,545,914 tons of thermal and coking coal for week ended 0700 hours 8 April 2013, Newcas ...
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- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
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