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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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Wednesday, 26 December 12
SHIP OWNERS WRAP UP NEWBUILDING DEALS PRIOR TO YEAR END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the year inches closer and closer to its end, many ship owners are looking to close deals for newbuilding vessels they have been negotiating duri ...
Monday, 24 December 12
CONSTITUTIONAL COURT DECISION MAY FURTHER DELAY THE ISSUANCE OF NEW MINING BUSINESS LICENCES - TJEN SHE SIUNG
COALspot.com - In November 2012 the Constitutional Court of Indonesia issued a decision on amendments to certain provisions under the Mining Law No. ...
Monday, 24 December 12
BUNKER PRICES TO CONTINUE RISING, ALBEIT IN A SLOWER MODE, DURING THE NEXT FEW YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEW
In a recent report, US-based consulting firm Mcquilling Services attempted to forecast the course of bunker prices during the next few years, as thi ...
Sunday, 23 December 12
Q4' 2013 CFR SOUTH CHINA COAL SWAP, US$ 3.40 HIGHER COMPARED TO Q1' 2013 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 1.94 percent M-M and WoW by 1.57percent but lost 0.35 ...
Saturday, 22 December 12
SECOND HAND VESSELS ENJOY HIGH DEMAND AS PRICES ARE ATTRACTIVE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the year is closing to its end, activity in the second hand vessel market has been more than high. Ship owners are looking to ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
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