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