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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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Wednesday, 12 February 14
NEW BUILDING ORDERS REACHING NEW POST-CRISIS HEIGHTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are looking to take advantage of the last few attractive deals in the new building market, before prices start climbing to new highs and ...
Wednesday, 12 February 14
2013 WAS THE YEAR OF PRIVATE EQUITY FUNDING - TIMOS PAPADIMITRIOU
COALspot.com: People say that money makes the world go round. Well, can it be that it’s the other way around? Is it possible that money needs ...
Tuesday, 11 February 14
INDONESIAN COAL SWAP SHOWS STRONG GROWTH IN 2014 SECOND HALF
COALspot.com – Swaps prices slide for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
T ...
Tuesday, 11 February 14
AUSTRALIA'S NEWCASTLE COAL EXPORTS SLIDE AROUND 15% WEEK ON WEEK
COALspot.com: In the week ended 10 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 11 February 14
SHIP OWNERS INVEST IN 447 NEWBUILDINGS AND SECOND HAND VESSELS DURING JANUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite a rough start to the year for the dry bulk freight market and lackluster performance from most other shipping sub-segments, ship owners have ...
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- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Parliament of New Zealand
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- The University of Queensland
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
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