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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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Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
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