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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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Friday, 27 September 19
LOWDOWN ON INCOTERMS 2020 OVERHAUL - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
This ninth revision of Incoterms is changed in style and substance. The revisions improve certain aspects of Incoterms 20 ...
Thursday, 26 September 19
INDIA INCREASES ITS ANNUAL COAL PRODUCTION BY 2.7% PER YEAR FROM 850 MILLION SHORT TONS IN 2018 TO 2 BILLION SHORT TONS BY 2050 - EIA
Worldwide coal production holds steady at about 8 billion short tons, or 160 quadrillion British thermal units (Btu), per year through 2040. Inc ...
Wednesday, 25 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
In the past five months there has been significant activity in the asset market with the dry bulk segment being by far the most volatile in terms o ...
Tuesday, 24 September 19
9TH ANNUAL SUPPLY CHAIN INNOVATION SUMMIT 2019 ASIA PACIFIC
Summit: 9th Annual Supply Chain Innovation Summit 2019 Asia Pacific
Host: Ace Events
Website: http: ...
Monday, 23 September 19
SUPRAMAX: THE ASIAN ARENA IT WAS A SLOW START, BUT DEMAND INCREASED AS THE WEEK WENT ON - BALTIC BRIEFING
Capesize
The market trended down over this past week, breaking the market out of its upward trending range. While the market traded sideways at ...
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- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- VISA Power Limited - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
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