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