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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, 16 November 12
SHIP OWNERS KEEP ON INVESTING IN SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Priced attractively, modern and with prompt delivery dates, second hand vessels are proving to be rather popular among cash-rich ship owners these d ...
Friday, 16 November 12
HANDY : IRON ORE WAS QUIET AND RATES FROM INDIA TO CHINA AROUND USD 5500
Handy
The Atlantic was weak with more supply of ships. Rates from Continent/ Feast at USD 9000 and from USG/China at USD 15k. The Pacific market re ...
Wednesday, 14 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 11.14 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,100,686 MT of thermal and coking coal for week ended – 0700 hours 12 November 2012, Ne ...
Tuesday, 13 November 12
INITIAL COAL PRODUCTION AT KATINGAN RIA ON TRACK FOR 2013 FOLLOWING GRANTING OF 'IN PRINCIPLE' FORESTRY PERMIT, INDONESIA
Realm Resources Ltd (“Realm” or the “Company” - ASX: RRP) has announced that its application to upgrade its exploration fore ...
Tuesday, 13 November 12
BULK PORTS & TECHNOLOGY ASIA 2013
Press Release - TOC Events are pleased to announce a new addition to our global portfolio with the launch of the inaugural Bulk Ports & Technolo ...
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- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Australian Coal Association
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- White Energy Company Limited
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
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