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