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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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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
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