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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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Sunday, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
Saturday, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
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- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
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