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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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Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
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- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
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