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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, 14 June 13
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.20 MILLION SHORT TONS W/E 8 JUNE 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.20 million short tons (mmst) of ...
Thursday, 13 June 13
HANDY: SHORT PERIOD WERE FIXED AT AROUND USD 9000 LEVEL
Handy
Despite falling rates for bigger sizes, the Supras in Atlantic are seeing some improvements with fresh biz. US Gulf positions fetching tick a ...
Thursday, 13 June 13
BIMCO EXPECTS SUBDUED CAPESIZE EARNINGS FOR THE COMING WEEKS - HELLENIC SHIPPING NEWS
Bulk is not only about China even though it is a key driver. In this section, we have taken a closer look at the European seaborne coal markets, whi ...
Thursday, 13 June 13
RIO TINTO AGREES SALE OF EAGLE PROJECT FOR AN ESTIMATED US$325 MILLION IN CASH
COALspot.com - Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated US$325 million in c ...
Thursday, 13 June 13
HARD COAL IMPORTS RISE SHARPLY IN GERMANY IN Q1 2013 - COAL IMPORTERS ASSOCIATION
Coal-fired Power Plants in Germany: Pillars of the Grid and the Energy Turnaround; Hard Coal Consumption and Hard Coal Imports Rise Sharply in Germa ...
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- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Planning Commission, India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
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