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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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Tuesday, 17 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
Here we are again, just a breath before the final quarter of the year. Under typical circumstances and on the basis of what we have seen during the ...
Monday, 16 September 19
COLOMBIAN COAL PRODUCTION TO FALL 5% THIS YEAR, MINING GROUP SAYS - REUTERS
Colombia’s coal production will decline to around 80 million tonnes in 2019, nearly 5% below last year’s, because of low prices and dro ...
Monday, 16 September 19
THE COAL-D SHOULDER? - BALTIC EXCHANGE
Good fortune and the number 13 don’t usually go hand in hand, but when it comes to coal, 2013 actually seems to have been the commodity&rsquo ...
Monday, 16 September 19
SCRUBBERS AND FUEL PROFIT SHARE CLAUSES - CLYDE&CO
From 1 January 2020, Regulation 14 of MARPOL Annex VI provides that the sulphur content in fuel oil used on board ships shall be reduced from a max ...
Monday, 16 September 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR MAX 1,290,000 METRIC TONS OF STEAMING COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for total 1,290,000 Metric Tons steam coal.
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- Electricity Authority, New Zealand
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
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