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