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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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Friday, 26 September 14
NEWCASTLMAXES ARE THE MOST SOUGHT AFTER VESSELS BY SHIP OWNERS TODAY SAYS VESSELS VALUE
KNOWLEDGE TO ELEVATE
Determining a ship’s fair value can be a very tricky business, especially when you’re the one paying. As such ...
Thursday, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
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- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Planning Commission, India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
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