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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, 11 April 13
TNEB HAS OPENED 4.2 MILLION TONS IMPORTED COAL TENDER
COALspot.com - TANGEDCO, the state run utility TANGEDCO (formerly known as TNEB), Tamil Nadu state owned electricity company has opened bids to purc ...
Wednesday, 10 April 13
US COAL CONSUMPTION TO INCREASE FROM 889 MMST IN 2012 TO 948 MMST IN 2013 AND 957 MMST IN 2014 - EIA
Based on estimates for the first quarter of 2013, American coal production has continued to decline.
Total production is down 9.9 million short t ...
Wednesday, 10 April 13
DRY BULK FREIGHT RATES SEEN MOSTLY STABLE IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
In its latest report, BIMCO forecast that for the coming six weeks, Capesize time charter average rates will remain subdued around $4,500-8,500 per ...
Monday, 08 April 13
SUB-BIT INDONESIA COAL SWAPS: UPWARD TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.71 percent and CFR South China coal shipment&nbs ...
Sunday, 07 April 13
CHARTER RATES ARE UNDER PRESSURE DUE TO DECLINING DEMAND - VISTAAR
COALspot.com - The freight market continued to fall further with all the indices down.
The BDI was down by 5.38 pct closing at 861 points and the ...
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- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
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