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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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Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
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- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
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