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