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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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Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- The University of Queensland
- PTC India Limited - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
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