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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, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
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- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Aditya Birla Group - India
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