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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, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
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- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
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