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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, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
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