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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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Monday, 27 February 12
INDONESIAN COAL EXPORTS TO CHINA DROPS 39.76 PERCENT IN JANUARY 2012
COALspot.com: Indonesia, the world largest coal exporter, shipped 28.21* mln mt of coal in January 2012, slightly lower than its December 2011 ...
Monday, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, endi ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
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- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- The University of Queensland
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
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