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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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Wednesday, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
Wednesday, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
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- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
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