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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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Friday, 10 April 20
INDIA'S BULKS SUPPLY CHAIN TAKES A HIT DURING LOCKDOWN - WOOD MACKENZIE
India is under a three-week lockdown from 25 March to contain the spread of the coronavirus outbreak. Businesses are shut, and the supply chain is ...
Thursday, 09 April 20
SUSPENSION OF WRONGFUL TRADING IN LIGHT OF COVID 19 - WF&W
KNOWLEDGE TO ELEVATE
DIRECTORS’ PERSONAL LIABILITY FOR WRONGFUL TRADING – RELIEF DURING THE CORONAVIRUS CRISIS
As the UK&rsquo ...
Wednesday, 08 April 20
LESSONS LEARNED FROM SCRUBBER INSTALLATION AND OPERATION - ABS
KNOWLEDGE TO ELEVATE
At the beginning of this year, the IMO’s global sulfur cap on marine fuels entered into force and shipowners who ch ...
Wednesday, 08 April 20
MARKET INSIGHT - INTERMODAL
With lockdown measures around the globe tightening during the last weeks of Q1, there is finally a feeling that most countries are slowly but stead ...
Tuesday, 07 April 20
SHIPPING MARKET ANALYSIS - ALLIED
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- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Economic Council, Georgia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
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