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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, 25 October 13
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED TOTALLED 803.1 MMST
COALspot.com – United States the world’s second largest coal producer produced approximately 19.10 million short tons (mmst) of coal in ...
Thursday, 24 October 13
PANAMAX: RATES SLIP ACROSS BOTH HEMISPHERES
Handy
We were back from holidays but still not much enquiries in the market. Overall future direction is uncertain. Currently, ships passing Singap ...
Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leadin ...
Wednesday, 23 October 13
DRY BULK MARKET HAS SHOWN SIGNS OF STABILITY - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable-)
The Dry Bulk market has shown signs of stability this past week, with the sole exception of Capes, rates f ...
Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding f ...
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- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Planning Commission, India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
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