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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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Saturday, 15 February 20
CHEN ZHIDA: NOVEL CORONAVIRUS - IMPLICATIONS FOR CHARTERPARTIES - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Last month, the Club issued a bulletin on the 2019 Novel Coronavirus (COVID-19) which explained the origin of the virus a ...
Saturday, 15 February 20
AFRAMAX: A MORE POSITIVE ATTITUDE EXISTED IN THIS SECTOR WITH RATES IMPROVING ON ALL ROUTES - BALTIC BRIEFING
VLCC
The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coron ...
Saturday, 15 February 20
A 56,000DWT VESSEL WAS CONCLUDED BASIS DELIVERY SINGAPORE VIA INDONESIA REDELIVERY CHINA IN THE LOW $6,000S - BALTIC BRIEFING
Capesize
Riding the downward momentum of the previous week, the market was always going to be hard pressed to make any sort of revival. With mu ...
Saturday, 15 February 20
U.S. COAL PRODUCTION WILL TOTAL 595 MMST IN 2020, DOWN 14% FROM 2019 - EIA
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019.
Lower ...
Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between Chin ...
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- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- PTC India Limited - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Economic Council, Georgia
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Central Electricity Authority - India
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