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