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