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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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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Central Electricity Authority - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- VISA Power Limited - India
- White Energy Company Limited
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
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