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