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