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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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Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
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- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Economic Council, Georgia
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
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