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