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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, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down.
The BDI was down by 6.58 pct closing at 1,037 points and the ...
Saturday, 21 July 12
INDONESIAN COMPANIES ABM INVESTAMA AND AVRA ASIA WORK OUT LONG-TERM CONTRACT - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading English news papaer in Indonesia reported that, ABM Investama, a company with diversified interests in coal mi ...
Friday, 20 July 12
INDONESIA-INDIA SUPRAS BEING FIXED AT $ 10K
Handy
After a stable last week, the Handysize market has experienced softening rates in the Atlantic. Ships are ballasting from India into the Atla ...
Friday, 20 July 12
HANDYSIZES PROVE RATHER ATTRACTIVE AMONG OTHER SHIPS, IN TERMS OF FUTURE RETURNS ON INVESTMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Handysize segment of the dry bulk market appears to offer the best incentive among other ship types, for a ship owners to invest in, says Interm ...
Wednesday, 18 July 12
TAIWAN POWER COMPANY TO IMPORT 0.588 MILLION TONS OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 588,000 MT tons of extra low sulfur sub-bituminous coal for Taipower thermal power plant thro ...
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- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- GMR Energy Limited - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
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