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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, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
...
Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry&rs ...
Tuesday, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
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- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- PTC India Limited - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
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