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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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Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
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- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
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