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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, 30 November 19
IMO2020 GLOBAL SULPHUR CUT: GERMAN SHIPPING TO USE NEW TYPE OF FUEL VDR SURVEY
IMO2020 Global sulphur cut: German shipping to use new type of fuel VDR survey: Technical issues and costs are the biggest challenges - VDR
&nb ...
Saturday, 30 November 19
PANAMAX: LEVELS IMPROVED IN THE PACIFIC MARKET TOO WITH $11,000 BEING CONCLUDED ON AN 81,000DWT SHIP FOR AN INDONESIA TO CHINA COAL TRIP - BALTIC BRIEFING
Capesize
The market has been well supported over the past week, led primarily by the Atlantic Basin. After bottoming last week, sentiment was s ...
Friday, 29 November 19
FITCHRATINGS MAINTAINS NEGATIVE 2020 OUTLOOK ON SHIPPING, AS TIGHTER SUPPLY HELPS, BUT SOFTER DEMAND DRAGS
Fitch’s Sector Outlook: Negative
We maintain a negative sector outlook for global shipping because of the forecast slowdown of ...
Friday, 29 November 19
INDONESIA PRODUCES 390 MLN TONNES OF COAL IN JAN-SEPT: MINISTER - REUTERS
Indonesia’s production of coal for the January-September period was 390 million tonnes, Energy and Mineral Resources Minister Arifin Tasrif s ...
Wednesday, 27 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third qu ...
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- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
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