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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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Sunday, 31 March 13
COAL FREIGHTS ARE IN FLAT TO WEAK TREND - VISTAAR
COALspot.com - This freight market after several weeks of firming up seemed to lose steam and this week all the indices were down except for handy s ...
Friday, 29 March 13
SUB-BIT INDONESIA COAL SWAPS: UP 0.55 % WOW; CFR SOUTH CHINA COAL CONTRACT: UP 0.23 % WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.55 percent and CFR South China coal shipment&nbs ...
Thursday, 28 March 13
SHIP OWNERS KEEN ON ACQUIRING SECOND HAND TONNAGE, AS WELL AS NEW BUILDINGS IN CONVENTIONAL SEGMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent rally of the Baltic Dry Index (BDI), coupled with renewed optimism, at least in some parts of the wet market, have prompted many ship own ...
Wednesday, 27 March 13
PTBA HAS CONCLUDED US$ 16.14 BILLION WORTH OF COAL SALES AND PURCHASE AGREEMENT WITH PLN
COALspot.com - PT. Bukit Asam, a 32 years old Indonesian state owned coal miner has signed a coal sales and purchase agreement with PT PLN, (a state ...
Wednesday, 27 March 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry recovered to their highest level for two years in the three months ended February 2013, according ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
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