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