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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, 11 April 13
TNEB HAS OPENED 4.2 MILLION TONS IMPORTED COAL TENDER
COALspot.com - TANGEDCO, the state run utility TANGEDCO (formerly known as TNEB), Tamil Nadu state owned electricity company has opened bids to purc ...
Wednesday, 10 April 13
US COAL CONSUMPTION TO INCREASE FROM 889 MMST IN 2012 TO 948 MMST IN 2013 AND 957 MMST IN 2014 - EIA
Based on estimates for the first quarter of 2013, American coal production has continued to decline.
Total production is down 9.9 million short t ...
Wednesday, 10 April 13
DRY BULK FREIGHT RATES SEEN MOSTLY STABLE IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
In its latest report, BIMCO forecast that for the coming six weeks, Capesize time charter average rates will remain subdued around $4,500-8,500 per ...
Monday, 08 April 13
SUB-BIT INDONESIA COAL SWAPS: UPWARD TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.71 percent and CFR South China coal shipment&nbs ...
Sunday, 07 April 13
CHARTER RATES ARE UNDER PRESSURE DUE TO DECLINING DEMAND - VISTAAR
COALspot.com - The freight market continued to fall further with all the indices down.
The BDI was down by 5.38 pct closing at 861 points and the ...
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- PTC India Limited - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
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