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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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Thursday, 19 June 14
PANAMAX: VERY CLOSE TO BREAKING THE ALL TIME LOW RECORD - FEARNLEYS AS
Handy
The Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rat ...
Wednesday, 18 June 14
CHINESE STEEL PRODUCTION SETS RECORD DURING FIRST TEN DAYS OF JUNE - COMMODORE RESEARCH & CONSULTANCY
Recently released data shows that average daily crude steel production at China's key steel mills hit a record high of 1.833 million tons durin ...
Wednesday, 18 June 14
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Back in January the expectations for Q3 and Q4 were more than great. Talks and claims for a rising BDI and a healthy market were coming from everyw ...
Tuesday, 17 June 14
DRY BULK FREIGHT RATES TO RISE DURING THE SECOND HALF OF 2014, AS CHINA IS EXPECTED TO START IMPORTING MORE IRON ORE FROM BRAZIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its latest analysis of the dry bulk market, BIMCO said that it doesn’t expect freight rates to react significantly to increased demand bef ...
Monday, 16 June 14
INDONESIAN COAL SWAPS FOR Q3 DELIVERY FALL 2.34 % MONTH ON MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
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Showing 3651 to 3655 news of total 6871 |
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- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- The University of Queensland
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Planning Commission, India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- White Energy Company Limited
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
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