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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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Friday, 16 November 12
SHIP OWNERS KEEP ON INVESTING IN SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Priced attractively, modern and with prompt delivery dates, second hand vessels are proving to be rather popular among cash-rich ship owners these d ...
Friday, 16 November 12
HANDY : IRON ORE WAS QUIET AND RATES FROM INDIA TO CHINA AROUND USD 5500
Handy
The Atlantic was weak with more supply of ships. Rates from Continent/ Feast at USD 9000 and from USG/China at USD 15k. The Pacific market re ...
Wednesday, 14 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 11.14 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,100,686 MT of thermal and coking coal for week ended – 0700 hours 12 November 2012, Ne ...
Tuesday, 13 November 12
INITIAL COAL PRODUCTION AT KATINGAN RIA ON TRACK FOR 2013 FOLLOWING GRANTING OF 'IN PRINCIPLE' FORESTRY PERMIT, INDONESIA
Realm Resources Ltd (“Realm” or the “Company” - ASX: RRP) has announced that its application to upgrade its exploration fore ...
Tuesday, 13 November 12
BULK PORTS & TECHNOLOGY ASIA 2013
Press Release - TOC Events are pleased to announce a new addition to our global portfolio with the launch of the inaugural Bulk Ports & Technolo ...
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- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- VISA Power Limited - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
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