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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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Thursday, 28 February 13
INDIA HAS INCREASED CUSTOMS DUTY AND COUNTERVAILING DUTY FOR POWER PLANT COAL
COALspot.com : The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime government has reduced& ...
Thursday, 28 February 13
SHIP OWNERS EXPECTED TO FACE A CHALLENGING YEAR, DESPITE THE FALL OF NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Tonnage oversupply and a lagging growth in world trade demand are expected to keep shipping in the "red", despite a series of measures ado ...
Thursday, 28 February 13
PANAMAX : MARKET HAS SEEN A GOOD UPTURN OVER THE LAST WEEK - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The ...
Wednesday, 27 February 13
NEWCASTLE PORT IN AUSTRALIA SHIPPED 0.358 MILLION MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,178,869 MT of thermal and coking coal for week ended 0700 hours 25 February 2013, Newc ...
Wednesday, 27 February 13
NEWLEAD HOLDINGS LTD. ANNOUNCES COAL SUPPLY AND DELIVERY CONTRACT
NewLead Holdings Ltd. yesterday announced that the Company has signed an agreement to supply and deliver 1.48 million metric tons of steam coal to a ...
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- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Australian Coal Association
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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