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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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Monday, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
Friday, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in ...
Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past thre ...
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- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
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