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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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Sunday, 07 June 20
A SCRUBBER FITTED 61,000 ULTRAMAX WAS FIXED DELIVERY PHILIPPINES TRIP VIA SOUTH AFRICA REDELIVERY VIETNAM AT $9,500 - BALTIC BRIEFING
Capesize
The small flicker of hope at the beginning of this week has kindled a small fire under the Capesize market. At a paltry $3369 from the ...
Saturday, 06 June 20
KOREA SOUTH-EAST POWER CO INVITED COAL BIDS FOR MIN 5600 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 270,000 Tons (MT) min. 5600 NCV co ...
Friday, 05 June 20
COAL INDIA ESTIMATES PRODUCTION GROWTH BY OVERBURDEN REMOVAL - FINANCIAL EXPRESS
PSU miner Coal India (CIL) has now limited mining only to Overburden Removal (OBR) with falling demand of coal. The mining behemoth is now keeping ...
Friday, 05 June 20
U.S. SANCTIONS COMPLIANCE GUIDANCE RELEASED FOR THE GLOBAL MARITIME, ENERGY AND METALS SECTORS - AKIN GUMP
Key Points
On May 14, 2020, OFAC, the Department of State and the U.S. Coast Guard jointly released guidance for persons involved in the ma ...
Friday, 05 June 20
IN THE FIRST 5 MONTHS OF 2020 AUSTRALIA SHIPPED 6.8 MLN TONNES TO VIETNAM - BANCHERO COSTA
In the first 5 months of 2020, global seaborne coal trade declined by as much as -8% year-on-year, according to vessel tracking data from Ref ...
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- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- IEA Clean Coal Centre - UK
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