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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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Friday, 08 March 13
DRY BULK MARKET ON A RISING TREND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its rising pattern set after China opened up again for business, following the Asian New Year Holidays. As a resul ...
Thursday, 07 March 13
PANAMAX : POSITIVE TREND; CAPESIZE : GRADUALLY SLIDE - FEARNLEYS AS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 22k and Black sea-feast was at USD 12k. The ...
Tuesday, 05 March 13
NEWCASTLE PORT SHIPPED 20.77 PERCENT MORE COAL W/E 4 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,631,562 MT of thermal and coking coal for a week ended 0700 hours 4 March 2013, Newcas ...
Sunday, 03 March 13
INDONESIAN THERMAL COAL SWAPS; CHINA CONTRACTS FALL W-O-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 0.75 percent and CFR South China coal shipment&nbs ...
Sunday, 03 March 13
FREIGHT MARKET FROM INDONESIA EXPECTED TO BE FIRM - VISTAAR
COALspot.com – The freight market has been fairly firm this week except for cape size index.
The BDI was up by 4.64 points closing at 776 p ...
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- London Commodity Brokers - England
- The Treasury - Australian Government
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
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