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