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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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- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
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