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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, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
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- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
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