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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, 08 September 13
BALTIC INDEX UP ON HIGHER CAPESIZE, PANAMAX RATES
COALspot.com : The freight market continued saw one of the biggest rally last week with Cape Size taking the lead followed by Panamax.
The BDI wa ...
Friday, 06 September 13
DRY BULK MARKET REACHES NEW YEAR-HIGHS ON THE BACK OF INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been on the rise once again, but this time around any new increase of freight rates translates into new year-highs, thus bri ...
Friday, 06 September 13
US PRODUCED APPROXIMATELY 90.80 MMST OF COAL IN AUGUST
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.90 million short tons (mmst) of ...
Thursday, 05 September 13
INDONESIAN COAL EXPORTS UP BY 6.72 PERCENT IN JULY
COALspot.com: Indonesia, the world's largest multi grade coal exporter shipped 35.268* million tons of coal in July 2013. Indonesian coal exp ...
Thursday, 05 September 13
HANDY: NICKEL ORE WAS PUSHING THE FAR EAST MARKET - FEARNLEYS
Handy
Nickel Ore was pushing the Feast market, several ships were fixed from low teens to $14k. Indo/India was still supported by bauxite, while th ...
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- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- VISA Power Limited - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
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