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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, 09 November 12
SHIP OWNERS TURN TO SECOND HAND VESSELS, WHICH COME AT ATTRACTIVE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The attractiveness of modern second hand vessels, which are often priced aggressively can't be ignored by cash-rich ship owners, who are taking adv ...
Thursday, 08 November 12
LARGE ECO SUPRA : INDO - INDIA NOW FIXED AT USD 11K FOR DELIVERY SINGAPORE - FEARNLEYS
Handy
The Atlantic market continues to remain weak with rates further softening on FH. Rates from USG to Feast were around USD 14k and Black Sea to ...
Thursday, 08 November 12
DRY BULK MARKET RETREATS AGAIN ON HIGHER SHIP SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In further evidence of a latest round of dry bulk shipping misery, the industry's benchmark fell for the 11th straight session yesterday, as the in ...
Thursday, 08 November 12
JOIN CHINA STEAM COAL SUPPLY - DEMAND FORUM
Join China Steam Coal Supply-Demand Forum & Visit Shenhua Yudean Zhuhai Port Coal Terminal
Press Release - Organized by CBI BIZ and suppo ...
Wednesday, 07 November 12
NEWBUILDING ORDERING ACTIVITY ON A STEADY PACE PRIOR TO THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders, which to many involved in the shipping industry, are the main reason of today's low freight rates and subsequent financial prob ...
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- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- MS Steel International - UAE
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
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