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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, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
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- Deloitte Consulting - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- The University of Queensland
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Planning Commission, India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
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