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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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- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Minerals Council of Australia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
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