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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, 16 February 17
IF I PLAN TO UNDERTAKE A CHARTERPARTY WITH AN UNFAMILIAR ENTITY, WHAT STEPS CAN I TAKE TO ENSURE THE CHARTERER WILL PAY THEIR HIRE? - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Due to the difficult conditions currently existing in the shipping market, particularly in the offshore sector, Members a ...
Wednesday, 15 February 17
SHIPPING MARKET INSIGHT - INTERMODAL
Looking at the state of the Dry Bulk market exactly a year ago, there is no doubt that there is a significant improvement and despite the fact that ...
Tuesday, 14 February 17
OPTIMISM HAS STARTED TO SLOWLY FLOW BACK INTO THE DRY BULK MARKET - GEORGE LAZARIDIS
Optimism has started to slowly flow back into the dry bulk market, with many in the market showing renewed optimism as the Pacific basin starts to ...
Monday, 13 February 17
COMBINED COAL SALES OF BUMI RESOURCES ROSE TO 87.7 MILLION TONS IN FY'16; UP 10.6 PERCENT Y/Y
COALspot.com: Combined Coal Sales of Bumi Resources rose to 87.7 million tons in FY’16 compared with 79.3 million tons in FY’15. ...
Monday, 13 February 17
THE FREIGHT MARKET CONTINUED TO TUMBLE IN FEBRUARY
COALspot.com: The Freight market was continued its downfall in all segments except Panamax for the week ending 10 February 2017.
The Balt ...
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- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Planning Commission, India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
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