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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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Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
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- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Planning Commission, India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
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