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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, 26 October 12
DRY BULK MARKET FALLS ON WORRIES THAT RECENT RALLY WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market retreated yesterday as a result of a plunge of the Capesize dry bulk carriers' segment, after their latest rally. As a result, ...
Tuesday, 23 October 12
INDONESIA SETS DMO FOR NEXT YEAR
COALspot.com - The Indonesian government has declared the quantity of coal to be supplied to domestic market in 2013 recently under DMO regulation. ...
Sunday, 21 October 12
BUMA HAS PRODUCED 25.0 MILLION TONS OF COAL YEAR TO DATE
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 33.2 million bcm* (+5.5% YoY) of Overburden in September 2012 totaled while coal produc ...
Saturday, 20 October 12
SUPRAMAX FREIGHT EXPECTED TO BE FLAT - VISTAAR
COALspot.com - The shipping market continued to be quite active with quite lot of cargoes fixed for in the cape and panamax sector.
The BDI was ...
Thursday, 18 October 12
INDO-INDIA, LARGE ECO SUPRA FIXED AT USD 11000 - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Cont to East Med were around USD 14k and Black Sea ...
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- Electricity Authority, New Zealand
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Australian Coal Association
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Economic Council, Georgia
- White Energy Company Limited
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