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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, 26 October 12
DRY BULK MARKET FALLS ON WORRIES THAT RECENT RALLY WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market retreated yesterday as a result of a plunge of the Capesize dry bulk carriers' segment, after their latest rally. As a result, ...
Tuesday, 23 October 12
INDONESIA SETS DMO FOR NEXT YEAR
COALspot.com - The Indonesian government has declared the quantity of coal to be supplied to domestic market in 2013 recently under DMO regulation. ...
Sunday, 21 October 12
BUMA HAS PRODUCED 25.0 MILLION TONS OF COAL YEAR TO DATE
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 33.2 million bcm* (+5.5% YoY) of Overburden in September 2012 totaled while coal produc ...
Saturday, 20 October 12
SUPRAMAX FREIGHT EXPECTED TO BE FLAT - VISTAAR
COALspot.com - The shipping market continued to be quite active with quite lot of cargoes fixed for in the cape and panamax sector.
The BDI was ...
Thursday, 18 October 12
INDO-INDIA, LARGE ECO SUPRA FIXED AT USD 11000 - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Cont to East Med were around USD 14k and Black Sea ...
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- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Eastern Coal Council - USA
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