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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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Monday, 12 October 15
DRY BULK SHIPPING: MARKETS ARE SLOWLY IMPROVING FROM A VERY LOW LEVEL AS THE DEMAND SIDE FALTERS - HELLENIC SHIPPING NEWS
The dry bulk market is in the midst of a shift in demand patterns, which coupled with a tonnage supply overhang, has been facing headwinds over the ...
Monday, 12 October 15
BDI WEIGHED DOWN BY CAPE
COALspot.com: The BDI (Baltic Dry Index) has come back down again this week. The BDI is a benchmark index used to assess the overall cost of moving ...
Sunday, 11 October 15
TANKER SHIPPING: MORE OPTIMISM IN SIGHT FOR TANKERS IN THE WINTER SEASON - BIMCO
Demand:
2015 has been the year of the tanker. The fundamental improvements with slow supply-side growth for some years coupled with low oil pri ...
Friday, 09 October 15
US WEEKLY COAL OUTPUT UP 1.2 PERCENT TO 17.7 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 08 October 15
CAPESIZE: MOST PEOPLE AGREE A SPIKE IN RATES WILL HAPPEN; WHEN, HOW LONG AND HOW SUBSTANTIAL? - FEARNLEYS
Cape
Depressives start of the fourth quarter, with c3 approaching USD 12 pmt and c5 presently in the mind 5's. According to Fearnleys ship br ...
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- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Parliament of New Zealand
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
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