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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, 08 March 13
DRY BULK MARKET ON A RISING TREND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its rising pattern set after China opened up again for business, following the Asian New Year Holidays. As a resul ...
Thursday, 07 March 13
PANAMAX : POSITIVE TREND; CAPESIZE : GRADUALLY SLIDE - FEARNLEYS AS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 22k and Black sea-feast was at USD 12k. The ...
Tuesday, 05 March 13
NEWCASTLE PORT SHIPPED 20.77 PERCENT MORE COAL W/E 4 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,631,562 MT of thermal and coking coal for a week ended 0700 hours 4 March 2013, Newcas ...
Sunday, 03 March 13
INDONESIAN THERMAL COAL SWAPS; CHINA CONTRACTS FALL W-O-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 0.75 percent and CFR South China coal shipment&nbs ...
Sunday, 03 March 13
FREIGHT MARKET FROM INDONESIA EXPECTED TO BE FIRM - VISTAAR
COALspot.com – The freight market has been fairly firm this week except for cape size index.
The BDI was up by 4.64 points closing at 776 p ...
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- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- The University of Queensland
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
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