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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, 26 September 13
INTERCARGO PUBLISHES BENCHMARKING BULK CARRIERS 2012-13 REPORT
The International Association of Dry Cargo Shipowners (Intercargo) has today launched Benchmarking Bulk Carriers 2012-13, the latest edition of our ...
Thursday, 26 September 13
DRY BULK MARKET KEEPS ON RALLYING ON THE BACK OF HIGH CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its momentum over the course of the past week, on the back of increased demand for Capesizes and an improvement of mark ...
Wednesday, 25 September 13
RBCT'S COAL EXPORT DECLINES IN AUGUST
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest coal export terminal in South African as well as in the world has shipped 16. ...
Wednesday, 25 September 13
CAPES TOUCHING RATES NO ONE BELIEVED COULD BE ACHIEVED IN 2013 - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market is the gift that keeps on giving these days. With rates for Capes touching numbers ...
Wednesday, 25 September 13
IS IT TIME AGAIN TO SUPERSIZE AGAIN? - GEORGE LAZARIDIS
After an early arrival of the seasonal rally in the Capesize market, things look to be on the upbeat for these dry bulk giants. With the Index reach ...
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- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- VISA Power Limited - India
- The University of Queensland
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
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