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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, 14 March 13
DRY BULK MARKET KEEPS ON RISING MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has maintained its rising momentum, on the back of increased cargo availability. According to yesterday's figures, the industry ...
Thursday, 14 March 13
SHIPPERS AND CARRIERS NEED GREATER COMMUNICATION AND MUTUAL UNDERSTANDING
Press Release – Shippers and shipping lines both need to raise their game if global container supply chains are not to be habitually subject t ...
Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded subst ...
Tuesday, 12 March 13
COAL MINING PRIVATIZATION IN INDIA: MUST - SUNIL K KUMBHAT
COALspot.com - India has the one of the richest coal reserves in the world and the country should have shown significant progress and gained the pos ...
Tuesday, 12 March 13
NEWCASTLE PORT SHIPPED 2.47 MILLION TONS OF COAL W/E 11 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,471,080 MT of thermal and coking coal for week ended 0700 hours 11 March 2013, Newcast ...
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- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- The University of Queensland
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
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