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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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Thursday, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
Thursday, 12 February 15
INDONESIAN COAL PRICE REFERENCE INCHED DOWN 1.44% IN FEBRUARY
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 62.92 pe ...
Thursday, 12 February 15
NEWBUILDING ORDERING ACTIVITY DRAGS ON, AS OWNERS ARE LOOKING FOR LOWER PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners appear to be waiting for lower prices in their dealings with Asian shipyards, as the dry bulk market is at historical lows. According t ...
Wednesday, 11 February 15
DRY BULK MARKET REMAINED UNDER PRESSURE : STABILIZING CAPE MARKET HARDLY HELPED SENTIMENT
COALspot.com: The Dry Bulk market remained under pressure last week, while the stabilizing Cape market hardly helped sentiment.
Greece based s ...
Wednesday, 11 February 15
BDI HITTING THE ALL-TIME LOW; FFA MARKETS NOT SHOWING ANY POSITIVE SIGNS
With the BDI hitting the all-time low and with FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is ...
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- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
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