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