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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, 28 August 18
COURT CONCLUDES DELIVERY MADE IN ACCORDANCE WITH TERMS OF LOIS - INCE&CO
Glencore Agriculture BV v Navig8 Chemicals Pool Inc (Songa Winds) [2018] EWCA 1901 (Civ)
In this case, the Commercial Court fo ...
Tuesday, 28 August 18
SUPRAMAX: A COAL TRIP VIA INDONESIA PAID $13,500 ON A 56,000DWT TO WC INDIA - BALTIC BRIEFING
Capesize
The Singapore holiday mid-week disrupted trading and unsettled the market, with owners losing some resilience. The market took on a la ...
Tuesday, 28 August 18
SHIPPING MARKET UPDATE - GEORGE LAZARIDIS
As we edge close to the start of the Autumn Season, a period within the year that is usually characterized as the pivot point from the final quarte ...
Friday, 24 August 18
KOREAN RESTRICTIONS ON COAL SULPHUR IMPACTING HUNTER EXPORTS - THE HERALD
WARNINGS that Korean restrictions on sulphur levels in coal could hurt the Hunter industry appear to have been accurate, according to a report in t ...
Thursday, 23 August 18
RUSSIA'S MECHEL PRODUCED 9.69 MMT OF RUN-OF-MINE COAL IN 1H'2018
Mechel PAO, one of the leading Russian mining and metals companies, announces 1H2018 operational results.
Mechel PAO’s Chief E ...
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- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
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