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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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- Planning Commission, India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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