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