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