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