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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, 12 October 12
INVESTMENT OPPORTUNITIES OCCUR IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although 2012 has by now evolved into one of the most challenging years for global shipping industry, ship owners are scouting the second hand ship ...
Thursday, 11 October 12
SINGAPORE BASED COAL SOURCE AND SHIPPING BAGS 300K MT IMPORTED COAL SUPPLY CONTRACT FROM TNPL
COALspot.com - India-based paper manufacturer Tamil Nadu Newsprint and Papers Limited has awarded a tender for 300,000 mt of imported steam co ...
Thursday, 11 October 12
PANAMAX : SINCE LAST WEEK RATES HAS FIRMED FOR ALL TRADES - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to East Med were around USD 14k and B ...
Thursday, 11 October 12
DRY BULK MARKET STEADY AFTER CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet staged a solid rebound after last week's holidays in China, as many would have expected. Indeed, many analysts were ...
Wednesday, 10 October 12
NEW BUILDING MARKET ON A QUIET WEEK, DUE TO ASIAN HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The newbuilding ordering activity has been more than quite during the course of the past week, as a result of holidays in both Korea and China. Acco ...
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- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- The University of Queensland
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Planning Commission, India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Parliament of New Zealand
- Economic Council, Georgia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
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