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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, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
Thursday, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
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- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
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