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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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Wednesday, 26 December 12
SHIP OWNERS WRAP UP NEWBUILDING DEALS PRIOR TO YEAR END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the year inches closer and closer to its end, many ship owners are looking to close deals for newbuilding vessels they have been negotiating duri ...
Monday, 24 December 12
CONSTITUTIONAL COURT DECISION MAY FURTHER DELAY THE ISSUANCE OF NEW MINING BUSINESS LICENCES - TJEN SHE SIUNG
COALspot.com - In November 2012 the Constitutional Court of Indonesia issued a decision on amendments to certain provisions under the Mining Law No. ...
Monday, 24 December 12
BUNKER PRICES TO CONTINUE RISING, ALBEIT IN A SLOWER MODE, DURING THE NEXT FEW YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEW
In a recent report, US-based consulting firm Mcquilling Services attempted to forecast the course of bunker prices during the next few years, as thi ...
Sunday, 23 December 12
Q4' 2013 CFR SOUTH CHINA COAL SWAP, US$ 3.40 HIGHER COMPARED TO Q1' 2013 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 1.94 percent M-M and WoW by 1.57percent but lost 0.35 ...
Saturday, 22 December 12
SECOND HAND VESSELS ENJOY HIGH DEMAND AS PRICES ARE ATTRACTIVE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the year is closing to its end, activity in the second hand vessel market has been more than high. Ship owners are looking to ...
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- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Australian Coal Association
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- PTC India Limited - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
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