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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, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
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- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Australian Coal Association
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Planning Commission, India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
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