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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, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
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- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
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