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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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Monday, 27 February 12
INDONESIAN COAL EXPORTS TO CHINA DROPS 39.76 PERCENT IN JANUARY 2012
COALspot.com: Indonesia, the world largest coal exporter, shipped 28.21* mln mt of coal in January 2012, slightly lower than its December 2011 ...
Monday, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, endi ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
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- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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