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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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Thursday, 26 April 12
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
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- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Planning Commission, India
- Siam City Cement - Thailand
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- PTC India Limited - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
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