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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, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
Tuesday, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
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- Bhatia International Limited - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Economic Council, Georgia
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