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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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Tuesday, 26 March 13
NEWCASTLE PORT SHIPPED 2.39 MMT OF COAL W/E 25 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2.396 million tons of thermal and coking coal for week ended 0700 hours 25 March 2013, N ...
Monday, 25 March 13
BUNKER FUELS ARE ABOUT TO GET CLEANER, BUT AT WHAT COST? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The cost of bunkers is nowadays the driving force behind most ship owners' major decisions, with regulations bound to change in many parts of the w ...
Sunday, 24 March 13
THE SUB-BIT INDONESIA'S COAL SWAPS FOR Q2 DELIVERY PRICE LOST 7.47 PERCENT PMT M-O-M
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 3.39 percent and CFR South China coal shipment 2.65 ...
Sunday, 24 March 13
FREIGHT MARKETS CONTINUED TO FIRM - VISTAAR
COALspot.com - This freight market continued to remain firm in all segments except for cape index which softened slightly.
The BDI was up by 4.60 ...
Sunday, 24 March 13
DRY BULK MARKET PROSPECTS OFFER ROOM FOR RESTRAINED OPTIMISM SAYS SHIP OWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its announcement regarding its annual performance, ship owner Frontline offered some useful insight on the future prospects of both the dry bulk ...
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- Parliament of New Zealand
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Aditya Birla Group - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
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