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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, 21 March 14
MERCURIA ANNOUNCES ACQUISITION OF J.P. MORGAN PHYSICAL COMMODITIES BUSINESS
COALspot.com: Mercuria Energy Group announced that it has reached a definitive agreement with J.P. Morgan Chase & Co. to acquire its physica ...
Thursday, 20 March 14
CAPESIZE: WEST AUSTRALIA TO CHINA RATES HAVE CLIMBED BACK TOWARD USD 11 PMT - FEARNRESEARCH
Handy
From a slight improvement in the Atlantic to a more mixed picture this mid week. North Atlantic rounds showing softening signs whereas S ...
Wednesday, 19 March 14
INSTEAD OF DECIDING WHETHER THE GLASS IS HALF FULL OR HALF EMPTY, I AM CURRENTLY GLAD THERE IS WATER IN THE GLASS - EVA TZIMA
By Eva Tzima
Research Analyst
Intermodal Research & Valuations
Right when you think that you have all your facts straight, right wh ...
Wednesday, 19 March 14
EUROCOKE SUMMIT 2014
Press Release: ThyssenKrupp, Steel Institute VDEh, SSI and more headline Smithers Apex’s Eurocoke Summit
The leading coke, coal and s ...
Wednesday, 19 March 14
DRY BULK MARKET REBOUND LEADS TO MORE NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The steady rise of the dry bulk market, as evidenced by the return, yesterday, of the Baltic Dry Index above the 1,500-point mark (1,518), is fu ...
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- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Planning Commission, India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- PTC India Limited - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- White Energy Company Limited
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