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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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Monday, 26 December 16
DO THE DERIVATIVES MARKETS MAKE COAL PRICES MORE VOLATILE? 59.21% SAY YES, POLL
COALspot.com: The substantial increase or decrease in coal prices within a short period of time has been supported by a number of fundamental drive ...
Friday, 23 December 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 711.1 MMST; DOWN 18.5% Y/Y - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 22 December 16
INDONESIA LACK OF EXPORT TO INDIA THIS WEEK - FERNLEYS
Supramax
While the Atlantic is keeping up with rates, the Pacific has been weaker says Astrup Fernley.
According to Astrup Fernley, backhaul ...
Wednesday, 21 December 16
THE SUPREME COURT DECISION IN OW BUNKERS - WHEN A SALE OF GOODS IS NOT A SALE OF GOODS - LEON ALEXANDER, CLYDE&CO
KNOWLEDGE TO ELEVATE
In May 2016 the Supreme Court of England & Wales gave judgment in an OW Bunkers test case entitled "Res Cogitans ...
Wednesday, 21 December 16
CLEANING THE OCEANS FROM PLASTIC - SOPHIE COTZIAS
2016 is coming to a close and it finds us in preparation for the 2017 enforcement of the Ballast Water Treatment Systems. We naturally are in thoug ...
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- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- PTC India Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
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