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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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Sunday, 21 June 15
SPOT RATE AVERAGES FOR FREIGHT FROM INDONESIA TO INDIA REMAIN STRONG THIS WEEK
COALspot.com: The freight market was quite firm this week compared to last week. The BDI was up 21% week on week and closed at 779 points. The cape ...
Friday, 19 June 15
U.S. WEEKLY COAL PRODUCTION UP SLIGHTLY COMPARED TO LAST WEEK; CONTINUES TO BE DOWN FROM LAST YEAR
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.4 million short ...
Friday, 19 June 15
INDONESIA'S COAL-TRAFFICKING PROBLEM REQUIRES IMPARTIAL INQUIRY - JAKARTA GLOBE
Indonesia, the leading supplier to the seaborne thermal coal market, produces 420 million tons of coal per year, according to its official tally.
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Thursday, 18 June 15
DRY BULK SHIPPING: LOWEST FLEET GROWTH IN 10 YEARS MAY NOT PROVE ENOUGH AS DEMAND IS NOT KEEPING PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The demand side of things in the dry bulk market seems unable to keep pace with even the slightest fleet growth, a sign of the demise that the indu ...
Thursday, 18 June 15
THE FAR EAST HANDYSIZE, HANDYMAX, SUPRAMAX MARKET REMAINED STEADY LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market closed off on Friday (last week) noting small gains on the back of stronger performance in the Panamax segment, w ...
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- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- PTC India Limited - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
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