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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, 19 September 14
PRICES FOR DRY BULK CARRIERS HAVEN'T CORRECTED ENOUGH, DESPITE LOWER THAN EXPECTED FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lot has been said and written about the looming dry bulk market recovery over the past few months. However, even if this hasn’t been materi ...
Thursday, 18 September 14
INDONESIA'S JULY COAL EXPORT VOLUME DROPPED 5.13% M-O-M
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.65* ...
Thursday, 18 September 14
PANAMAX : US GULF/CHINA FRONTHAUL ARE NOW PAYING TYPICALLY 14.5K + 450K BB - FEARNRESEARCH
Handy
We still see a firming tendency in the Atlantic and it is still ECSA and USG leading on. USG/Cont now up in about USD 17/18k for a Smax whi ...
Thursday, 18 September 14
ELECTRONIC BILLS OF LADING: A GUIDE TO PAPERLESS TRADING WHICH HAS TAKEN THE SHIPPING INDUSTRY BY STORM
Bimco has recently developed and published a charter party clause that specifically addresses the use of electronic bills of lading. Increasing use ...
Wednesday, 17 September 14
PANAMAX: LIMITED INTEREST IN BOTH BASINS; RISING TONNAGE - INTERMODAL
With the week starting off at a fast pace and with the positive momentum from the previous Friday seemingly sticking around for a bit longer, most ...
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- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Australian Coal Association
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
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