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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, 03 October 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
The bunker fuel supply and availability landscape is close to its transformation with the enforcement of the IMO’s global 0.5% fuel Sulphur c ...
Tuesday, 02 October 18
PANAMAX: A FURTHER RISE ACROSS ALL MAIN ROUTES THIS WEEK - ALLIED
Capesize
Finally an upward recovery was in sight in the spot market the past few days, after the prolonged negative pressure noted the weeks pr ...
Tuesday, 02 October 18
THE PRICE OF OIL CONTINUES ITS CLIMB AMIDST A SERIES OF CONCERNS REGARDING SUPPLY CONSTRAINTS - GEORGE LAZARIDIS
It has been a busy week for oil traders as the price of oil continues its climb amidst a series of concerns regarding supply constraints.
...
Tuesday, 02 October 18
INDONESIA GETS READY TO MEET INCREASED COAL DEMAND FROM CHINA, FREIGHT TO RESPOND - MIKAL BOE
Indonesian coal suppliers have increased their domestic coal production target by 4.5 percent from a previous 485 million tonnes to a massive 507 m ...
Monday, 01 October 18
SUPRAMAX: A 56,000 DWT FIXED DELIVERY FOR A SURABAYA TRIP WITH REDELIVERY TO WEST COAST INDIA AT $13,500 - THE BALTIC BRIEFING
Capesize
A stop-start market for the big ships with many expectations and few fulfilled. Holidays curtailed trading early in the week, but the ...
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- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- VISA Power Limited - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
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