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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, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
Wednesday, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
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- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
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