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