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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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- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- VISA Power Limited - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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