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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, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
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