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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, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
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- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
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