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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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Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
Tuesday, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
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- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- The University of Queensland
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
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