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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, 30 March 17
WHERE AN AGREEMENT FAILS TO DELIVER - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
Watson Farley & Williams acted for MRI Trading AG in a leading case on ‘agreements to agree’ that was fin ...
Thursday, 30 March 17
PANAMAX : ACTIVITY IN THE PANAMAX MARKET HAS INCREASED SUBSTANTIALLY IN BOTH HEMISPHERES - FEARNLEYS
Supramax
This week we were looking at prolonged activity from ECSA, mostly with grain cargoes to Far East and SE Asia, where Ultras to SE Asia fi ...
Thursday, 30 March 17
THE ROLE OF COAL IN THE ENERGY SUPPLY OF THE EU-28: HANS-WILHELM SCHIFFER
The European Union (EU-28) is one of the largest economies in the world, with a gross domestic product (GDP) of €14,635 billion in 2015. It ha ...
Wednesday, 29 March 17
MARKET INSIGHT - NASOS SOULAKIS
Shipowners will always look for market signals in order to gauge market perception and decide upon which strategy to follow next. And while owners ...
Monday, 27 March 17
THE FREIGHT MARKET CONTINUED TO FIRM WEEK OVER WEEK
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
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