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