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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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Friday, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
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- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- The University of Queensland
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Marubeni Corporation - India
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