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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, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
...
Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
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- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Planning Commission, India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Australian Coal Association
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
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