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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, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
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- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
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