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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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Tuesday, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Australian Coal Association
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Parliament of New Zealand
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- White Energy Company Limited
- Parry Sugars Refinery, India
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