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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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Sunday, 22 December 13
QUIET FREIGHT MARKET DUE TO LONG HOLIDAYS
COALspot.com: The market was soft this week with all indices down. However towards second half of the week the futures on segments was firming up.
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Friday, 20 December 13
US PRODUCED 2.71% MORE COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal in ...
Friday, 20 December 13
DRY BULK MARKET SLUMPS AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As has been the case in recent years, the dry bulk market has been on a downward trend ahead of the Holiday Season for a large part of the world. Th ...
Thursday, 19 December 13
SHIPPING CONFIDENCE HITS THREE-YEAR HIGH - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for more than three years over the three-month period to November 201 ...
Wednesday, 18 December 13
SNP ACTIVITY IN CHINA SEEMS TO BE SLOWING DOWN - CHRISTOS TRAGEAS
Approaching the end of the year, SnP activity in China seems to be slowing down in comparison to the first half of this quarter, as most Chinese Shi ...
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- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Posco Energy - South Korea
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Central Electricity Authority - India
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