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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, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
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- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Australian Coal Association
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- The University of Queensland
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
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