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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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Saturday, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
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- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
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