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