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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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Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
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- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- The University of Queensland
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Australian Coal Association
- Planning Commission, India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
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