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