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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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Thursday, 23 August 18
SUPRAMAX: SOME FRESH COAL CARGOES APPEARED IN SE ASIA, GIVING A BIT PRESSURE ON RATES FOR END AUGUST SHIPMENTS - FEARNLEYS
Capesize
Slightly softer but generally very healthy for the big ships, with limited supply of early tonnage and positive Brazilian ore export v ...
Wednesday, 22 August 18
KOMIPO INVITES BIDS FOR 480K TONS OF BITUMINOUS COAL FOR BORYEONG POWER PLANT & SHIN BORYEONG POWER PLANTS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 480,000 mt of min. 5700 NAR coal of Australian origi ...
Wednesday, 22 August 18
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
During the most quite week of the summer period we witnessed a trade war between United States and Turkey. A battle, which started with the arrest ...
Monday, 20 August 18
SUPRAMAX: OVERALL IT WAS A POSITIVE WEEK FOR THE BSI INDEX WITH GAINS MADE - THE BALTIC BRIEFING
Capesize
A week of largely unfulfilled expectations with holidays again curbing activity. Rates remained essentially healthy, but despite bad wea ...
Friday, 17 August 18
DO ARBITRATION AGREEMENTS IN BILLS OF LADING BIND THEIR HOLDERS? - WFW
KNOWLEDGE TO ELEVATE
Bills of lading are a crucial part of the security package traditionally sought by trade finance providers.
...
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- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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