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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, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
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- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
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