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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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Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
Capesize
The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
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- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
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