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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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Wednesday, 18 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
Despite we all knew about the Covid-19 weeks ago, few could realize the size of the thread until the last few days. The examples of China and Italy ...
Tuesday, 17 March 20
IT IS NOW UNQUESTIONABLE THAT 2020 WILL BE A MILESTONE YEAR FOR THE OIL MARKET, AS WELL AS THE WHOLE GLOBAL ECONOMY - ALLIED
It is now unquestionable that 2020 will be a milestone year for the oil market, as well as the whole global economy. The impact from the COVID-19 o ...
Tuesday, 17 March 20
PRELIMINARY FIELD EXPERIENCES ON THE EFFECTS OF LSFO AND VLSFO ON CYLINDER CONDITION - HANS JENSEN LUBRICATORS
It is now more than two months since the 0.5% sulphur cap entered into force, which have affected the operation of more than 70,000 vessels. As ant ...
Monday, 16 March 20
ULTRAMAX: S8 INDONESIA-INDIA AND S10 INDONESIA-CHINA ROUTES BOTH POSTED GAINS OF $1,412, AND $1,289 ON THE WEEK, TO CLOSE AT $5,575, AND $6,089 RESPECTIVELY - BALTIC BRIEFING
Capesize
The Capesize market came to work on Monday, with little expectation, or confidence, that the days ahead were going to bring anything o ...
Sunday, 15 March 20
CAPTIVE COAL OUTPUT RISES 19% IN APRIL-FEBRUARY - FINANCIAL EXPRESS
Coal production from captive mines in the first eleven months of the ongoing fiscal have increased by 18.8% year-on-year (y-o-y) to 51.7 million to ...
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- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Planning Commission, India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- The University of Queensland
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
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