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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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Tuesday, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
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- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
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