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