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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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- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- The University of Queensland
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
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