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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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Sunday, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
Saturday, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
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- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
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