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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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Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
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- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
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