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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, 09 January 14
CAPESIZE: WEST AUSTRALIA FREIGHT IS NOW DOWN IN THE $8S AND STILL DROPPING - FEARNLEYS
Handy
In the Atlantic we see rates sliding slowly for the start of 2014. Several players cvrd over the holidays and the rate decline was som ...
Thursday, 09 January 14
THE SHIPPING MARKET IN 2013 AND LOOKING FORWARD GLOBAL ECONOMY: STEADY AS SHE GOES UPWARDS - BIMCO
Over the past year, developed economies have gained traction while developing and emerging economies have suffered from slower growth. Despite key e ...
Wednesday, 08 January 14
DRY BULK MARKET PROSPECTS LOOKING BRIGHTER DESPITE SLOW START TO THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market's benchmark, the BDI has been on a fall since the start of 2014, ending yesterday's session down to 1,87 ...
Wednesday, 08 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL
COALspot.com: In the week ended January 6, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.27 m ...
Wednesday, 08 January 14
THE DRY BULK MARKET HAS LOST SOME OF ITS STEAM THESE PAST COUPLE OF DAYS: INTERMODAL
Chartering (Wet: Softer- / Dry: Softer- )
The Dry Bulk market has lost some of its steam these past couple of days although hires, espe ...
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- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
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