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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, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- MS Steel International - UAE
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
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