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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, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
Thursday, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
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- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
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