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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, 11 January 20
BALTIC BRIEFING TANKER REPORT - WEEK 2
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Saturday, 11 January 20
SUPRAMAX: INDONESIA COAL RUNS, A 58,000DWT SHIP WAS RUMOURED FIXED DELIVERY KALIMANTAN, REDELIVERY WEST COAST INDIA, IN THE $4,000S - BALTIC BRIEFING
Capesize
Closing out the first full trading week of 2020, the Capesize market is struggling to gain any solid positive upward traction. Opening ...
Friday, 10 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remains flat
China’s benchmark power coal price remained flat during the past week.
...
Thursday, 09 January 20
NEW IMO LIFEBOAT REQUIREMENTS ENTER INTO FORCE - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Three new compulsory IMO resolutions entered into force on 1 January 2020. These resolutions deal with the maintenance, t ...
Thursday, 09 January 20
INDIA'S NEW EASED MINING RULES TO ENHANCE FOREIGN PARTICIPATION IN COAL SECTOR: MINISTER
India’s cabinet has eased mining laws in a bid to attract foreign players to the domestic coal sector and reduce imports of the fuel, coal mi ...
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- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- VISA Power Limited - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- MS Steel International - UAE
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- GMR Energy Limited - India
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