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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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Sunday, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
Saturday, 05 January 13
THE SHIPPING MARKET IN 2012 AND LOOKING FORWARD - BIMCO
Global Economy: Things will go up from here
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic ...
Friday, 04 January 13
DRY BULK MARKET LOOKING FOR DIRECTION IN FIRST TRADING DAYS OF THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is actively looking for its footing at the start of the New Year, as charters have been scarce, as is usually the case during th ...
Thursday, 03 January 13
INDONESIAN SUB-BITUMINOUS COAL SWAPS CLOSED US$ 6.86 HIGHER FOR 2014 DELIVERY
COALspot.com - Swaps prices were changed positively for thermal coal for loading in the first quarter from Indonesia, according to SGX AsiaClear OTC ...
Thursday, 03 January 13
SUPRMAX FREIGHT RATE FROM RED SEA / INDIA IS AROUND MID TEENS - FEARNLEYS
Fearnleys in its weekly report said that, Indian market was very quiet in respect of export of iron ore. For Indo-India trip Supra rate was hovering ...
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- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
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