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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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Wednesday, 07 August 13
HANDIES : FINDING IT DIFFICULT TO SUSTAIN THEIR PREVIOUS LEVELS - KONSTANTINOS KONTOMICHIS
Broker's insight
by Konstantinos Kontomichis,
SnP Broker
Entering the most predictable month of the year, as expected the seasonal effects ha ...
Tuesday, 06 August 13
UNLEASHING SHALE GAS POTENTIAL AS A GLOBAL ENERGY GAME CHANGER
In its 4th year running, the Annual Shale Gas Conference will bring leaders from North American shale gas operators, key Asian regulators, multi ...
Tuesday, 06 August 13
GBCE APPOINTS BENJAMIN WILEY AS NEW MANAGING DIRECTOR
COALspot.com : GB Clean Energy Ltd. (GBCE) announced today that Mr. Benjamin Wiley has been appointed as Managing Director.
Mr. Wiley has ...
Tuesday, 06 August 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS FALL 23.16 PERCENT ON WEEK TO 2.26 MMT
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 15.8 percent week on week to 2.26 million mt for ...
Monday, 05 August 13
PAPERLESS TRADING (ELECTRONIC BILLS OF LADING) - FREQUENTLY ASKED QUESTIONS ("FAQS") - UK P&I CLUB
A number of Members have contacted the Club with queries regarding the use of electronic bills of lading and any potential consequences for P&I ...
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- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- London Commodity Brokers - England
- VISA Power Limited - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
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